Nordic American Offshore Ltd. Announces Pricing of Its Initial Public Offering of Its Common Shares

Nordic American Offshore Ltd. Announces Pricing of Its Initial Public Offering of Its Common Shares  HAMILTON, Bermuda, June 11, 2014 (GLOBE NEWSWIRE) -- Nordic American Offshore Ltd. (the "Company" or "NAO") announced today that it has priced its initial public offering of 5,882,352 common shares at $16.00 per share. The Company has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments.  The Company's common shares are expected to commence trading on June 12, 2014 on the New York Stock Exchange under the symbol "NAO."  The net proceeds from this offering will be approximately $86,970,574. If the option granted to the underwriters to purchase additional common shares to cover over-allotments is exercised in full this would increase the net proceeds by approximately $13,270,574. The Company intends to use the net proceeds to purchase two newbuilding platform supply vessels ("PSVs") and for other acquisitions and general corporate purposes, including working capital. The Company may use the balance of the net proceeds for the construction, in a Norwegian yard, of up to three additional PSVs that are similar to the Company's PSVs, under a letter of intent into which the Company has entered. If the options to construct the three PSVs are exercised, the Company will have a fleet of 11 vessels.  The offering is expected to close on June 17, 2014, subject to customary conditions.  Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers and Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.  The initial public offering is being made by means of a prospectus. A preliminary prospectus related to the offering has been filed with the Securities and Exchange Commission (the "SEC").Copies of the preliminary prospectus may be obtained from: Morgan Stanley & Co. LLC at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department, Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, tel: 1-800-221-1037, Email: newyork.prospectus@credit-suisse.com, J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204, or DNB Markets, Inc. at 200 Park Avenue, 31st Floor, New York, New York 10166 or by telephone at (212) 681-3800.  A registration statement relating to these securities has been filed with and declared effective by the SEC. The registration statement is available on the SEC's website at www.sec.gov.  This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or 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 jurisdiction.  About the Company  Nordic American Offshore Ltd. is an international offshore supply vessel company, which owns eight platform supply vessels, of which two are newbuildings to be delivered in January 2015, at the earliest. The common shares of the Company are currently listed on the Norwegian OTC list.  Forward-Looking Statements  This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which by their nature are inherently uncertain and outside of the Company's control.Actual results may differ, possibly materially, from those anticipated in these forward-looking statements.For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's registration statement, as amended, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release.  Contact Information:  Tor-Øyvind Bjørkli, Chief Executive Officer Nordic American Offshore Ltd. Tel: +47 90 62 70 14  Turid M. Sørensen, Chief Financial Officer Nordic American Offshore Ltd. Tel: +47 90 57 29 27  Jacob Ellefsen, Manager, IR and Research, Monaco Nordic American Offshore Ltd. Tel: + 377 93 25 89 07 or + 33 678 631 959  Gary J. Wolfe Seward & Kissel LLP, New York, New York, USA Tel: +1 212 574 1223  Herbjørn Hansson, Executive Chairman Nordic American Offshore Ltd. Tel:+1 866 805 9504 or + 47 901 46 291  Press release PDF: http://hugin.info/159489/R/1792306/616873.pdf