DWT Goes Public

Someone had to grab this great ticker symbol and it was no other than Britannia Bulk Holdings Inc. With the assistance of Goldman Sachs and Banc of America Securities, as joint bookrunners, Britannia announced today that it was commencing an initial public offering of 8,333,333 shares of its common stock at a proposed offering price of $17 to $19 per share. At the midpoint, the gross pro-ceeds would be $150 million. Certain principals have granted the underwriters the right to purchase up to 1.25 million shares in the aggregate at the initial public offering price to cover over-allotments.

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