HAMILTON, Bermuda, Dec. 9, 2013 (GLOBE NEWSWIRE) -- Nordic American Tankers Limited (NYSE:NAT) (the "Company") announced today that, in connection with its previously announced public offering of 8,125,000 common shares at a public offering price of $8.00 per share, the underwriters exercised a portion of the option granted to them by the Company and will purchase an additional 1,018,750 common shares on the same terms on which the 8,125,000 common shares were sold to the underwriters. The common shares are being offered pursuant to the Company's effective shelf registration statement. Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and DNB Markets Inc. and Pareto Securities Inc. are acting as co-managers of the offering. The Company expects to close the sale of these additional common shares on or about December 11, 2013, subject to customary closing conditions. Following the closing, the total net proceeds to the Company, before expenses to the Company and including net proceeds from the sale of the additional shares, will be approximately $69 million and the Company will have 75,182,001 common shares outstanding. As previously announced, the Company intends to use the net proceeds of this offering primarily to finance its investment in Nordic American Offshore Ltd. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made by means of a prospectus and related prospectus supplement. Copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley & Co. LLC at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department. About the Company The Company is an international tanker company that owns 20 double-hull Suezmax tankers.