The following table summarizes the issuances of common shares over
the three years ending December 31, 2013:
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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’s
Ownership
After the
Offering |
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Use of Proceeds
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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 |
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February 2012
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17,250,000 |
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$ |
4.00 |
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69,000 |
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65,771 |
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20.4 |
% |
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Prepayment of revolving credit facilities |
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June 2012
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4,464,286 |
(1) |
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$ |
4.11 |
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18,348 |
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18,348 |
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24.6 |
% |
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Acquisition of conventional tankers |
| (1) |
Represents unregistered shares
Class A common stock issued to Teekay as partial consideration
for the Company’s acquisition of the 2012 Acquired Business,
which had an approximate value of $25.0 million when the purchase
price was agreed between the two parties. Proportion of the voting
power held by Teekay Corporation at December 31, 2013 was
53.1%. Please refer to Item 7 – Major Shareholders and
Related Parties. |
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