The Company also announced that its Shelf Registration Statement on Form S-3, which registered $250 million of securities and/or debt instruments, was declared effective by the Securities and Exchange Commission. This shelf registration statement reflects the new requirements of the amended Securities Act of 1933.
Mr. Bruce Streeter, President, said: "The successful completion of the New Loan Facility and the effectiveness of our S-3 are key components in structuring the financial capability of GulfMark to take advantage of market opportunities as they develop. The New Loan Facility will result in lower interest cost and increased capacity over the next seven years while the shelf registration gives the Company the flexibility to issue a variety of equity/debt instruments should a significant growth opportunity emerge."
GulfMark Offshore, Inc. provides marine transportation services to the energy industry through a fleet of sixty (60) offshore support vessels, primarily in the North Sea, offshore Southeast Asia, and the Americas.
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