FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of October 2006
NORDIC AMERICAN TANKER SHIPPING LIMITED
(Translation of registrant's name into English)
LOM Building
27 Reid Street
Hamilton, HM 11
Bermuda
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)7: ___
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached hereto as Exhibit 1 is the press release issued by Nordic
American Tanker Shipping Limited (the "Company") on October 6, 2006 announcing
the pricing of the Company's follow-on offering of 5,000,000 common shares.
Exhibit 1
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Nordic American Tanker Shipping Ltd. (NAT)-(NYSE:NAT)
Announces pricing of follow-on offering.
Hamilton, Bermuda, October 6, 2006
Nordic American Tanker Shipping Ltd. (the "Company") today announced that its
follow-on offering of 5,000,000 common shares has been priced at $32.00 per
share. The common shares are being offered pursuant to the Company's effective
shelf registration statement. Bear, Stearns & Co. Inc. and Morgan Stanley are
acting as joint bookrunning managers and DnB NOR Markets, Inc., Dahlman Rose &
Company, LLC and Scotia Capital (USA) Inc. are acting as co-managers. The
Company has also granted the underwriters an option to purchase an additional
750,000 common shares to cover any over-allotments, exercisable within 30 days.
The Company expects to close the sale of the common shares on October 11, 2006,
subject to customary closing conditions.
The net proceeds of the offering together with borrowings under the Company's
recently expanded $500 million credit facility are expected to be used to pay
the balance of the purchase price of the three Suezmax tankers which the Company
has agreed to acquire and which are expected to be delivered no later than
November 2006. The net proceeds are also expected to be used together with
borrowings under the recently expanded credit facility to fund future
acquisitions in line with the Company's growth strategy.
The offering is being made only 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 Bear, Stearns & Co. Inc. at 383 Madison Avenue, New York, New York
10179, Attention: Prospectus Department, and Morgan Stanley at 180 Varick
Street, Second Floor, New York, New York 10014, Attention: Prospectus
Department.
About the Company
The Company is an international tanker company that owns nine modern double-hull
Suezmax tankers. The Company expects to take delivery of the three additional
Suezmax tankers no later than November 2006.
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, vessels breakdowns and instances of off-hire, failure on the
part of a seller to complete a sale 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.
Contacts:
Scandic American Shipping Ltd
Manager for:
Nordic American Tanker Shipping Limited
P.O Box 56, 3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail: nat@scandicamerican.com
Web-site: www.nat.bm
Rolf Amundsen, Investor Relations
Nordic American Tanker Shipping Limited
Tel: +1 800 601 9079 or + 47 908 26 906
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Herbj0rn Hansson, Chairman and Chief Executive Officer
Nordic American Tanker Shipping Limited
Tel: +1 866 805 9504 or + 47 901 46 291
SK 01318 0002 713553
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
NORDIC AMERICAN TANKER SHIPPING LIMITED
(registrant)
Dated: October 19, 2006 By: /s/ Herbj0rn Hansson
----------------------
Herbj0rn Hansson
Chairman, Chief Executive
Officer and President
SK 01318 0002 713549