KNOT Offshore Partners (KNOP) is looking to bank $50m from a private placement of preferred equity.
The New York-listed tanker owner said the convertible preferred shares will be sold at $24 each, against a closing share price of $22.65 on Monday.
They will pay annual distributions of 8%.
KNOP also has the option of selling an additional $49m of shares to other buyers at the same price.
Net
