Ardmore Shipping Prices Initial Public Offering

Ardmore Shipping Corporation announced yesterday that it has priced its initial public offering of 10,000,000 shares of its common stock, par value $0.01 per share, at $14.00 per share.
The underwriters have a 30-day option to purchase up to an additional 1,500,000 common shares to cover over-allotments, if any. The Companys common shares are scheduled to begin trading on August 1, 2013 on the New York Stock Exchange under the symbol ASC.
The proceeds of the offering are expected to be used to fund a portion of the expenditure for the vessels on order in the Companys initial fleet, to fund a portion of the aggregate purchase price of the Companys expansion fleet that it intends to acquire subject to the completion of the offering, to pay any amount drawn under one of its credit facilities, to pay an initial dividend and for general corporate purposes.

Ardmore Shipping, August 1, 2013