The offer was oversubscribed and Dorian raised the total buyback to 8.4m shares at US$13.50 each, and the overall offer size to US$113.5m.
The acquisition was structured by way of a reverse triangular merger with the financing for the acquisition provided by alternative investment firm, EnTrust Global and will be the first such merger to be effected under the Companies Law of the DIFC.
G&D has significantly increased its profitability in recent years, thanks to greater demand for KVM solutions in the high-performance sector as well as professionalisation of its internal structures by Borromin.
Units consisting of one common share (or pre-funded warrant) and one Class E warrant were sold in an underwritten public offering registered with the Securities and Exchange Commission for gross proceeds of approximately US$25m.
The legislation was revised in an effort to continue to make two laws more liberal, customer-friendly and reflective of the corporate laws and standards of the State of Delaware and other US states.
Each Class A warrant is immediately exercisable for one common share at an exercise price of $0.35 per share and will expire five years from issuance.
Royal Caribbean announced that it intends to use the combined net proceeds from the offerings of the Notes for general corporate purposes, which may include the repayment of indebtedness.
Partners Steven Hollander and Daniel Rodgers led the WFW New York Corporate team that advised long-standing client Royal Caribbean Cruises Ltd. on matters of maritime and Liberian law in connection with a US$3.3bn private offering.
US persons, including corporations, who own or control more than 10% of a foreign entity must make a filing with the United States Bureau of Economic Analysis.
Seanergy is the only pure-play Capesize ship-owner publicly listed in the US. Its common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.