SFL - Announcement of Pricing of Public Offering of 8 million Common Shares | SFL Stock News
Summary
SFL - Announcement of Pricing of Public Offering of 8 million Common SharesSFL Corporation Ltd. (NYSE: SFL) (SFL or the Company) today announced that it has priced its previously announced underwritten public offering (the Offering) of 8,000,000 of the Companys common shares, par value per share (Common Shares), at per share.The net proceeds of the Offering are expected to be used for general corporate purposes, including but not limited to vessel acquisitions.The Company has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 Common Shares.Morgan Stanley is acting as sole bookrunning manager and BTIG, LLC is acting as lead manager for the Offering. Alternatively, a copy may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.Investor and Analyst Contacts:Aksel Olesen, Chief Financial Officer, SFL Management AS+47 23 11 40 36Andr\xe9 Reppen, Chief Treasurer & Senior Vice President, SFL Management AS+47 23 11 40 55Sander Borgli, Vice President - IR, SFL Management AS +47 23 11 40 73Media Contact:Ole B. Hjertaker, Chief Executive Officer, SFL Management AS+47 90 14 12 43SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. More information can be found on the Companys website: www.sflcorp.comThis press release may contain forward looking statements. Although SFL believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, SFL cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.Important factors that, in the Companys view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies, fluctuations in currencies and interest rates, general market conditions in the seaborne transportation industry, which is cyclical and volatile, including fluctuations in charter hire rates and vessel values, changes in demand in the markets in which the Company operates, including shifts in consumer demand from oil towards other energy sources or changes to trade patterns for refined oil products, changes in market demand in countries which import commodities and finished goods and changes in the amount and location of the production of those commodities and finished goods, technological innovation in the sectors in which we operate and quality and efficiency requirements from customers, increased inspection procedures and more restrictive import and export controls, changes in the Companys operating expenses, including bunker prices, dry-docking and insurance costs, performance of the Companys charterers and other counterparties with whom the Company deals, the impact of any restructuring of the counterparties with whom the Company deals, and timely delivery of vessels under construction within the contracted price, governmental laws and regulations, including environmental regulations, that add to our costs or the costs of our customers, potential liability from pending or future litigation, potential disruption of shipping routes due to accidents, political instability, terrorist attacks, piracy or international hostilities, the length and severity of the ongoing coronavirus outbreak and governmental responses thereto and the impact on the demand for commercial seaborne transportation and the condition of the financial markets, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. SFL disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.