The following
table summarizes the issuances of common shares over the three
years ending December 31, 2011:
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Date
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Number of
Common
Shares Issued |
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Offering
Price
(Per
Share) |
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Gross
Proceeds |
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Net
Proceeds |
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Teekay
Corporation’s
Ownership After
the Offering |
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Use of Proceeds |
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June 2009
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7,000,000 |
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$ |
9.80 |
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68,600 |
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65,508 |
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42.2 |
% |
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Acquisition of a conventional tanker and
prepayment of revolving credit facilities |
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April 2010
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11,391,744
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(1)
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$ |
12.25 |
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139,549
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(1)
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134,920
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(1)
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37.1 |
% |
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Acquisition of conventional tankers |
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October 2010
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8,595,000 |
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$ |
12.15 |
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104,429 |
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99,663 |
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31.0 |
% |
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Prepayment of revolving credit facilities |
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February 2011
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9,890,000 |
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$ |
11.33 |
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112,054 |
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107,105 |
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26.0 |
% |
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Prepayment of revolving credit facilities |
| (1) |
Including 2.6 million
unregistered shares of Class A common stock issued to Teekay
Corporation at a price per share equal to the offering price, which
represented $32.0 million of the purchase price for the
Company’s acquisition of the Kaveri Spirit L.L.C., Yamuna
Spirit L.L.C. and Helga Spirit L.L.C.. |
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