Founder Sells Down

On Monday, Aegean Marine Petroleum Network announced that its founding shareholder, Dimitris Melisanidis, acting through Leveret International, intends to offer 4 million shares of the company’s common shares in an underwritten public offering using an existing shelf registration. As of year-end, Mr. Melisanidis controlled 15,178,031 shares representing 31.8% of the company’s outstanding shares. Of the total amount being offered, Leveret is selling 400,000 shares to Peter Georgiopoulos, the Chairman of the Board, which will increase his holdings to approximately 4.8 million shares, and a further 1 million to the company. The balance will be purchased by Jefferies, which is acting as the sole book-running manager of the offering.

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