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Nordic American Tankers Limited (NYSE: NAT) Announces Public Offering

Nordic American Tankers Limited (NYSE: NAT) Announces Public Offering 
HAMILTON, BERMUDA -- (Marketwire) -- 04/01/13 --  Nordic American
Tankers Limited (the "Company") today announced that it is commencing
a public offering of $87 million aggregate amount of common shares
pursuant to the Company's effective shelf registration statement. The
Company's Chairman and Chief Executive Officer, Mr. Herbjorn Hansson
is expected to purchase about $1.5 million worth of common shares in
the offering on the same terms as other investors. Morgan Stanley &
Co. LLC is acting as the bookrunning manager for the offering and DNB
Markets Inc., Skandinaviska Enskilda Banken AB and Pareto Securities
Inc. are acting as co-managers of the offering. The Company has
granted the underwriters a 30-day option to purchase up to an
additional $13.05 million aggregate amount of common shares.  
The net proceeds of the offering are expected to be used to pay for
acquisitions under our expansion program, including the Nordic
Future, and for general corporate purposes. The Company's current
fleet consists of 20 double-hull Suezmax tankers. In addition we have
entered into a preliminary agreement to acquire a modern double-hull
Suezmax tanker, the Nordic Future, which is expected to be delivered
no later than May 2013. The Company is reviewing other possible
acquisitions of vessels which could take place in the near future. 
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful. The offering is being made
by means of a prospectus and related prospectus supplement. A
prospectus supplement related to the offering will be filed with the
Securities and Exchange Commission. When available, copies of the
prospectus and prospectus supplement relating to the offering may be
obtained from the offices of Morgan Stanley at 180 Varick Street,
Second Floor, New York, New York 10014, Attention: Prospectus
Department or by email at prospectus@morganstanley.com. 
About the Company
 The Company is an international tanker company
that owns 20 modern double-hull Suezmax tankers. In addition we have
entered into a preliminary agreem
ent to acquire a modern double-hull
Suezmax tanker, the Nordic Future, which is expected to be delivered
no later than May 2013. 
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS 
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts. 
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intend,"
"estimate," "forecast," "project," "plan," "potential," "will,"
"may," "should," "expect," "pending" and similar expressions identify
forward-looking statements. 
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. We undertake
no obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise. 
Important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand in the tanker market, as a
result of changes in OPEC's petroleum production levels and world
wide oil consumption and storage, changes in our operating expenses,
including bunker prices, drydocking and insurance costs, the market
for our vessels, availability of financing and refinancing, changes
in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hire, failure on the part of a
seller to complete a sale of a vessel to us and other important
factors described from time to time in the reports filed by the
Company with the Securities and Exchange Commission, including the
prospectus and related prospectus supplement, our Annual Report on
Form 20-F, and our reports on Form 6-K. 
The Company has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission (SEC) for the
offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement, the
preliminary prospectus supplement relating to this offering and other
documents the Company has filed with the SEC for more complete
information about the Company and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the Company, any underwriter or any
dealer participating in the offering will arrange to send you the
prospectus if you request it by calling toll-free 1 866 718 1649. You
may also request a copy of these documents by sending an e-mail to
ir@nat.bm. 
Contacts:
Scandic American Shipping Ltd 
Manager for:
Nordic American Tankers Limited
P.O. Box 56, 3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail: nat@scandicamerican.com  
Jacob Ellefsen, 
Manager, Investor Relations and Research, Monaco
Nordic American Tankers Limited
Tel: + 377 93 25 89 07 or + 33 678 631 959 
Rolf Amundsen, Advisor, Norway
Nordic American Tankers Limited
Tel: +1 800 601 9079 or + 47 908 26 906 
Turid M. Sorensen, EVP & CFO, Norway
Nordic American Tankers Limited
Tel: +47 33 42 73 00 or +47 90 57 29 27 
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223 
Press Release (PDF)
http://hugin.info/201/R/1689329/554449.pdf 
 
 
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