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

Core Points - Navigator Gas announced the closing of a public offering of 7,000,000 shares at a price of $15.00 per share, conducted by BW Group Limited as the selling shareholder [8] - The company did not offer any shares of its own common stock in the Secondary Offering and did not receive any proceeds from the sale [4] - The company purchased 3,500,000 shares from the underwriters at a price of $14.52 per share, funded with cash on hand [2] Company Overview - Navigator Gas operates the world's largest fleet of handysize liquefied gas carriers and is a leader in seaborne transportation services for petrochemical gases, including ethylene, ethane, liquefied petroleum gas, and ammonia [10] - The fleet consists of 56 semi- or fully-refrigerated liquefied gas carriers, with 25 capable of transporting ethylene and ethane [10] - The company owns a 50% share in an ethylene export marine terminal located at Morgan's Point, Texas [10] Financial Information - The Secondary Offering was made through a prospectus supplement filed with the SEC, which became effective on July 11, 2023 [1] - Citigroup and DNB Markets, Inc. served as joint book-running managers for the Secondary Offering [9]