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Crowley raises $200 million

Written by Nick Blenkey

president-ceo-chairman-thomas-crowley-jr mediumOCTOBER 24, 2013 — Crowley Maritime Corporation reports that it has successfully raised gross proceeds of $200 million through the sale of 200,000 shares of Series A Income Preferred Securities.

Crowley Chairman, President and CEO Tom Crowley.

“We are very pleased to have concluded this important transaction for the company, especially as it offers a new source of capital to pursue our growth plans,” said Crowley’s Chairman, President and CEO Tom Crowley.

The company intends to use the net proceeds from this offering in connection with its new vessel build program as well as for general corporate purposes.

DNB Markets acted as exclusive financial advisor to Crowley. DNB Markets and Incapital acted as joint book-running managers for the offering.

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