SOURCE: StealthGas Inc.

October 06, 2005 08:56 ET

StealthGas Inc. Announces Pricing of Initial Public Offering

ATHENS, GREECE -- (MARKET WIRE) -- October 6, 2005 -- StealthGas Inc. (NASDAQ: GASS) today announced the pricing of its initial public offering of 8,000,000 shares of its common stock at a price to the public of $14.50 per share. All of the shares of common stock offered are to be sold by StealthGas. StealthGas has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares to cover over-allotments, if any. StealthGas's common stock has been approved for listing on the Nasdaq National Market under the symbol "GASS."

The offering was led by Cantor Fitzgerald & Co. Morgan Keegan & Company, Inc., Johnson Rice & Company L.L.C., Hibernia Southcoast Capital and HARRISdirect acted as co-managers. A written copy of the prospectus pertaining to the offering may be obtained from Cantor Fitzgerald & Co., 110 East 59th Street, New York, New York 10022.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 5, 2005. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About StealthGas Inc.

Headquartered in Athens, Greece, StealthGas Inc. is a ship-owning company serving the liquefied petroleum gas sector of the international shipping industry. StealthGas currently has a fleet of nine LPG carriers and intends to purchase ten additional LPG carriers.

Contact Information

  • Company Contact:
    Andrew J. Simmons
    Chief Financial Officer
    StealthGas Inc.
    E-mail: Email Contact

    Investor Relations / Media:
    Nicolas Bornozis
    Capital Link, Inc. (New York)
    Tel. 212-661-7566
    E-mail: Email Contact