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Top Finally Gives up on Convertible Offering

After nearly a month in the market, a change of underwriters and several changes to pricing, Top Tankers officially withdrew its $300 million convertible preferred stock deal this week citing market conditions. Proceeds of the offering were to be used to acquire the 15-vessel bulk carrier fleet of Greek owner AM Nomikos, and the deal has since been called off as a result of the failed offering.

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Written by: | Categories: Freshly Minted, The Week in Review | May 26th, 2005 |

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