Navigator Gas Announces Commencement of Secondary Public Offering by Selling Shareholder and Concurrent Repurchase of Shares by Navigator Gas

Core Viewpoint - Navigator Holdings Ltd. is conducting a Secondary Offering of 6,000,000 shares of its common stock, with the selling shareholder being BW Group Limited, while the company itself will not receive any proceeds from this offering [6]. Group 1: Secondary Offering Details - The Secondary Offering involves a total of 6,000,000 shares being offered to the public [6]. - Citigroup and DNB Markets, Inc. are acting as joint book-running managers for the Secondary Offering [2]. - The company plans to repurchase 3,000,000 shares from the underwriters at the same price as the offering, funded by cash on hand [7]. Group 2: Company Overview - Navigator Gas operates the world's largest fleet of handysize liquefied gas carriers and is a leader in the transportation of petrochemical gases [13]. - The fleet consists of 56 semi- or fully-refrigerated liquefied gas carriers, with 25 capable of transporting ethylene and ethane [13]. - The company also holds a 50% stake in an ethylene export marine terminal located at Morgan's Point, Texas [13]. Group 3: Regulatory Information - A shelf registration statement for the shares related to the Secondary Offering was filed with the SEC on June 28, 2023, and declared effective on July 11, 2023 [12]. - The offering will be conducted via a prospectus supplement and accompanying prospectus filed with the SEC [12].