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     13944  0 Kommentare Nordic American Offshore Ltd. Announces Pricing of its Initial Public Offering of its Common Shares

    Hamilton, Bermuda, June 11, 2014

    Press release about Nordic American Offshore Ltd.

    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.

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    Nordic American Offshore Ltd. Announces Pricing of its Initial Public Offering of its Common Shares Hamilton, Bermuda, June 11, 2014 Press release about Nordic American Offshore Ltd. 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 …