Watson Farley & Williams (“WFW”) acted as Capital Tankers Corp.’s (“Capital Tankers”) Marshall Islands legal counsel regarding its NOK4.8bn (US$500m) private placement involving more than 900 different investors, representing the largest Western shipping listing of the last two decades, and its subsequent listing on the Oslo Euronext Growth stock exchange.
Capital Tankers, incorporated in the Marshall Islands, operates a modern fleet of 30 fuel efficient crude tankers, nine of which are currently in operation, with an additional 21 under construction. Incorporated Capital Tankers aims to build a leading global platform in the crude tanker segment, and is backed by Capital Maritime & Trading Corp., a global shipowner with strong public-markets track record, including through Nasdaq-listed Capital Clean Energy Carriers Corp.
The WFW New York Maritime team that advised Capital Tankers was led by New York Office Head and Capital Markets and Marshall Islands-admitted Partner Steven Hollander, supported by Counsel Todd Johnson, Senior Associate Haris Kazantzis, and Associate Lucie Couillard Sosa.
Steven commented: “This successful listing provides Capital Tankers with a compelling platform for future growth, backed by exceptional investor engagement. Raising such a significant amount of capital demonstrates strong confidence in the company’s vision and we’re pleased to have advised them on this transaction, which highlights the depth of WFW’s maritime, capital markets and Marshall Islands capabilities.”
Fearnley Securities AS and Pareto Securities acted as joint coordinators. Clarksons Securities and SB1 Markets served as bookrunners. Advokatfirmaet Thommessen AS acted as Norwegian legal counsel to Capital Tankers, while Advokatfirmaet Simonsen Vogt Wiig AS acted as legal counsel to the managers.
