Eneti again talks Jones Act WTIV newbuild

Eneti Chairman and CEO Emanuele A. Lauro: "Right now we are focused on delivering on our existing commitments and deriving value from our existing fleet.”

Emanuele Lauro led Eneti Inc. (NYSE: NETI) looks to still have plans to build a Jones Act compliant wind turbine installation vessel (WTIV). The company, which closed on its acquisition of Seajacks International in August, today announced that it intends to offer, issue and sell to the public $200 million of shares of its common stock, par value $0.01 per share, through an underwritten public offering.

“The net proceeds of the offering are expected to be used for general corporate purposes, including the funding of the company’s wind turbine installation vessel newbuilding program consisting of one contracted newbuilding vessel, one optional newbuilding vessel and one proposed Jones Act compliant newbuilding vessel,” said the announcement, noting that, “as part of the offering, Scorpio Holdings Limited, a related party of the company, has expressed an interest to purchase common shares at the public offering price with a value of at least $30.0 million.”