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Tsakos Energy discloses 11.66M-share secondary offering

  • Tsakos Energy (NYSE:TNP-9.1% after-hours as it files for an ~11.66M-share common stock offering by selling shareholders AY Tank Ltd., a wholly owned subsidiary of OMP AY Holdings Ltd., which is a wholly owned subsidiary of Offshore Merchant Partners Asset Yield Fund.
  • TNP says the sale represents ~9.93M common shares based on a 9.99% beneficial ownership limitation and ~89.5M common shares it believes are outstanding and issuable upon the conversion of 3.5M convertible preferred shares held by AY Tank.

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