TEN Sells

On Tuesday, Tsakos Energy Navigation, after the market closed, announced a share offering of 7,623,328, shares, of which 896,861 would be purchased by entities affiliated with the Tsakos family. The offering, which includes a green shoe of 1,008,968 shares, is being done by a prospectus supplement to its shelf registration dated July 14, 2009. Proceeds of the offering will be used for fleet expansion and for general corporate purposes.

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