Diana Containerships plans to offer and sell 8.1 million of its common shares in an underwritten public offering.
The Greek-based owner of container ships for charter has granted the underwriters a 30-day option to purchase up to a total of 1,215,000 additional common shares.
The NASDAQ-listed company, which was spun off by NYSE-listed Diana Shipping in 2010, said it intends to use the net proceeds of the offering for general corporate purposes, including vessel acquisitions and working capital, although it said it has not identified any specific vessels for acquisition at this time.
Diana Containerships earned a $1.9 million profit in the first quarter of this year, compared with a $300,000 profit in the same quarter last year.
Wells Fargo Securities, BofA Merrill Lynch and UBS Investment Bank are acting as joint-book runners of the offering. Barclays and RBC Capital Markets are co-managers.