Benzinga | Sep 22, 2021 04:38PM EDT

Grindrod Shipping Holdings Ltd. Announces Secondary Offering of 1.84M Ordinary Shares

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) (JSE: GSH) ("Grindrod Shipping" or "Company" or "it" or "we"), a global provider of maritime transportation services predominantly in the drybulk sector, today announced that certain existing shareholders of the Company (the "Selling Shareholders") have commenced a secondary offering of an aggregate of 1,841,962 ordinary shares. The Company will not receive any proceeds from the sale of ordinary shares by the Selling Shareholders.



The Company's ordinary shares are listed for trading on the Nasdaq Global Select Market under the symbol "GRIN" and quoted on the Main Board of the JSE Limited (the "JSE"), with a share code of "GSH" and under the abbreviated name "GRINSHIP."

Jefferies LLC is acting as sole book-running manager and Noble Capital Markets, Inc. is acting as co-manager for the offering.

The Offering is being made only by means of a preliminary prospectus supplement and accompanying base prospectus. The Company has filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission ("SEC") for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the proposed offering. When available, copies of the prospectus relating to and describing the terms of the proposed Offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.