The New York-listed shipowner’s shares dipped by 11.1% to$1.42 in late afternoon trading after reporting to the US Securities andExchange Commission (SEC) that the new shares would be issued to Magna-linked HanoverHoldings. That values the new shares at $4.12m.
As TradeWinds has reported, NewLead struck a deal last monthto settle a $44.8m New York lawsuit filed by Hanover, which had acquired NewLead debtfrom a variety of creditors.
The
