Teekay LNG Partners could raise more than $176 million in a share sale.
The New York-listed shipowner has attached a price per unit of $38.40 to its offering, which has now gone live with 4.6 million shares.
The company could net a further $26.52 million if its underwriters choose to buy up to an additional 690,000 shares.
Teekay said it will use the fresh funds to buy second-hand vessels or newbuildings.
