News Tag: Other Corporate Information

Hamilton, Bermuda, May 2, 2023

Himalaya Shipping Ltd. (“Himalaya Shipping”), an independent dry bulk carrier company with three dual fueled Newcastlemax vessels in operation and nine dual fueled Newcastlemax dry bulk vessels under construction expected to be delivered between May 2023 and July 2024, today announced that the underwriters of the Company’s recently completed initial public offering in the United States of 7,720,000 of its common shares (the “Offering”) have partially exercised their over-allotment option to purchase an additional 910,000 common shares at the public offering price of $5.80 per share, less underwriting discounts and commissions, with the sale of the overallotment shares completing today. As a result, the total number of shares sold in the Offering will be 8,630,000.

DNB Markets acted as sole global coordinator, joint bookrunner and representative of the underwriters; Clarksons Securities acted as qualified independent underwriter and joint bookrunner; ABG Sundal Collier ASA, Arctic Securities, BTIG and Fearnley Securities are acting as joint bookrunners; and Cleaves Securities AS acted as co-manager for the Offering.

The net proceeds from the Offering to Himalaya Shipping, after deducting underwriting discounts and commissions and estimated offering expenses payable by Himalaya Shipping, and including the net proceeds from the over-allotment shares, is approximately $45.6 million. Himalaya Shipping intends to use the net proceeds of the Offering for general corporate purposes, which may include funding acquisitions of vessels on order or maintaining liquidity, repayment of indebtedness and funding our working capital needs.

A registration statement relating to this Offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 30, 2023. The Offering is being made only by means of a prospectus, copies of which may be obtained, when available, from the SEC at www.sec.gov, and from DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities in the United States will be made in accordance with the registration requirements of the Securities Act of 1933 and if made in any other state or jurisdiction will be made in accordance with the securities laws of any such state or jurisdiction.

This press release shall not constitute an offer to subscribe to or a solicitation of an offer to subscribe to securities in any member state within the European Economic Area (“EEA”) in which such offer or solicitation is unlawful, unless in reliance upon applicable EEA prospectus exceptions, whereby no EEA prospectus, registration or similar action would be required within EEA.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, 13 April 2023,

Himalaya Shipping is pleased to announce that it has successfully taken delivery of the third of the twelve 210,000 dwt Newcastlemax newbuildings the Company has on order from New Times Shipyard.

The vessel (“Mount Etna”) will commence a minimum 24 month charter with an evergreen structure thereafter and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel. The time charters also include a profit sharing of any economic benefit derived from operating the vessel´s scrubber or running on LNG, as well as certain rights to convert the time charters to fixed rates based on the prevailing forward freight agreement (FFA) curve from time to time.

“We are excited to take delivery of the third vessel, which is chartered on an index-linked time charter, earning a significant premium to a standard Capesize vessel. We are thankful to the shipyard which again has delivered a high-quality vessel slightly ahead of schedule, despite the previous difficult lock-down situation in China.” says Herman Billung, contracted CEO of Himalaya Shipping.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 91831590

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has three vessels in operation and nine Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.

Forward Looking Statements

This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as “anticipate”, “believe”, “continue”, “estimate”, “expect”, “intends”, “may”, “should”, “will” and similar expressions, and include statements relating to our statements with respect to the delivery of Mount Etna and the terms of its charter. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Himalaya Shipping Ltd. believes that these assumptions are reasonable, they are, by their nature, uncertain and subject to significant known and unknown risks, contingencies and other factors which are difficult or impossible to predict and which are beyond our control. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein

Hamilton, Bermuda, 4 April 2023

Reference is made to previous stock exchange announcements by Himalaya Shipping Ltd. (the “Company”) regarding the initial public offering in the US of new shares in the Company (the “New Shares”). The new share capital is US$ 39,872,857.

The share capital increase pertaining to the New Shares has now been registered in the Company’s register of members, on 4 April 2023 after the close of trading on the Euronext Expand.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the US. Any offers, solicitations or offers to buy, or any sales of securities in the US will be made in accordance with the registration requirements of the Securities Act of 1933.

For further information, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, 4 April 2023:

Reference is made to previous stock exchange announcements by Himalaya Shipping Ltd. (the “Company”) regarding the initial public offering in the US of new shares in the Company (the “New Shares”).

As announced by the Company on 31 March 2023, the Company has resolved to issue 7,720,000 New Shares each having a par value of US$ 1.00, thereby increasing the Company’s share capital by US$ 7,720,000.

The prospectus for the listing of the New Shares in Norway has today been approved by the Financial Supervisory Authority of Norway (Nw: Finanstilsynet). The Prospectus, which only relates to the listing of the New Shares on the Euronext Expand, is available on the Company’s website at www.himalaya-shipping.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the US. Any offers, solicitations or offers to buy, or any sales of securities in the US will be made in accordance with the registration requirements of the Securities Act of 1933.

For further information, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Reference is made to Himalaya Shipping Ltd.’s (“Himalaya Shipping”) stock exchange announcement on March 31, 2023, (the “Announcement”) relating to the pricing of the shares in Himalaya Shipping’s initial public offering in the United States of 7,720,000 new shares (the “Offering”).

Affinity Shipholdings I LLP (“Affinity”) has today been notified that it has been allocated 86,207 shares in the Offering (the “Allocation”). The new shares are expected to be delivered on April 4, 2023, subject to customary closing conditions.

Further, Affinity Shipholdings I LLP has lent 1,158,000 shares to DNB Markets pursuant to a share lending agreement to facilitate the over-subscription of the Offering with an equal number of shares (the “Share Lending”).  

Prior to the Allocation, the Share Lending and the Offering, Affinity had 3,228,096 shares in Himalaya Shipping representing more than 10% of the share capital and voting rights. Following the Share Lending, Affinity has 2,070,096 shares in Himalaya Shipping, representing 6.4% of the share capital and votes in Himalaya Shipping.

Following the settlement of the Offering, Affinity expects to own 2,156,303 shares in Himalaya Shipping, representing 5.4% of the shares and votes in Himalaya Shipping.  

The ownership percentages described above following the Share Lending and the settlement of the Offering assume that the underwriters of the Offering do not declare the over-allotment option described in the Announcement, and will be subject to adjustments should the option be declared.

Reference is made to Himalaya Shipping Ltd.’s (“Himalaya Shipping”) stock exchange announcement on March 31, 2023, (the “Announcement”) relating to the pricing of the shares in Himalaya Shipping’s initial public offering in the United States of 7,720,000 new shares (the “Offering”).

Drew Holdings Ltd. has today been notified that it has been allocated 517,241 shares in the Offering. The new shares are expected to be delivered on April 4, 2023, subject to customary closing conditions.

Drew Holdings Ltd. currently owns 12,446,185 shares in Himalaya Shipping representing more than 1/3 of the share capital and voting rights. Following the settlement of the Offering, Drew Holdings Ltd. expects to own 12,963,426 shares which are expected to represent 32.51% of the share capital and votes in Himalaya Shipping (subject to adjustments for the underwriters’ potential declaration, if any, of the over-allotment option in the Offering, as described in the Announcement).

Hamilton, Bermuda, March 31, 2023

Reference is made to Himalaya Shipping Ltd.’s (“Himalaya Shipping”) stock exchange announcement on March 31, 2023, relating to the equity offering of a total of 7,720,000 new common shares (the “Offer Shares”), each at a subscription price of US$5.8 per Offer Share (the “Subscription Price”).

The following persons discharging managerial responsibilities (“PDMRs”) in Himalaya Shipping have subscribed for and been allocated the following Offer Shares at the Subscription Price:

Bjørn Isaksen, Chairperson of Himalaya Shipping: 30,000 Offer Shares. After delivery, Mr. Isaksen and Freng Invest AS, a company controlled by Bjørn Isaksen, will own 350 000 shares and 150 000 share options in Himalaya Shipping.

Herman Billung, Contracted Chief Executive Officer of Himalaya Shipping: 17,241 Offer Shares. After delivery, Mr. Billung will own 37,241 shares and 100,000 share options in Himalaya Shipping.

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, March 30, 2023

Himalaya Shipping Ltd. (“Himalaya Shipping”), an independent dry bulk carrier company with two dual fueled Newcastlemax vessels in operation and 10 dual fueled Newcastlemax dry bulk vessels under construction at New Times Shipyard in China expected to be delivered between April 2023 and July 2024, today announced the pricing of its previously announced initial public offering in the United States of 7,720,000 of its common shares (the “Offering”), at a price to the public of $5.80 per common share. Himalaya Shipping has also granted the underwriters a 30-day option to purchase up to an additional 1,158,000 common shares at the Offering Price, less underwriting discounts and commissions.

Himalaya Shipping’s common shares have been approved for listing on the New York Stock Exchange under the symbol “HSHP.” The Offering is expected to close on April 4, 2023, subject to customary closing conditions. Himalaya Shipping will continue to be listed on the Euronext Expand in Norway under the ticker “HSHP”.

DNB Markets is acting as sole global coordinator, joint bookrunner and representative of the underwriters; Clarksons Securities is acting as qualified independent underwriter and joint bookrunner; ABG Sundal Collier ASA, Arctic Securities, BTIG and Fearnley Securities are acting as joint bookrunners; and Cleaves Securities AS is acting as co-manager for the Offering.

The net proceeds from the Offering to Himalaya Shipping, after deducting underwriting discounts and commissions and estimated offering expenses payable by Himalaya Shipping, are expected to be approximately $40.5 million, excluding any exercise of the underwriters’ option to purchase additional common shares. Himalaya Shipping intends to use the net proceeds of the Offering for general corporate purposes, which may include funding acquisitions of vessels on order or maintaining liquidity, repayment of indebtedness and funding our working capital needs.

A registration statement relating to this Offering was declared effective by the SEC on March 30, 2023. The Offering is being made only by means of a prospectus, copies of which may be obtained, when available, from the SEC at www.sec.gov, and from DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities in the United States will be made in accordance with the registration requirements of the Securities Act of 1933 and if made in any other state or jurisdiction will be made in accordance with the securities laws of any such state or jurisdiction.

This press release shall not constitute an offer to subscribe to or a solicitation of an offer to subscribe to securities in any member state within the European Economic Area (“EEA”) in which such offer or solicitation is unlawful, unless in reliance upon applicable EEA prospectus exceptions, whereby no EEA prospectus, registration or similar action would be required within EEA.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, March 30, 2023

On March 27, 2023, Himalaya Shipping Ltd. (“Himalaya” or the “Company”) announced a suspension of the trading in the Company’s share to convert the Company’s registration form in Euronext Securities Oslo (the “VPS”) (as defined in the press release on 27 March 2023, the “Conversion”).

The Conversion, in which the Company implemented an amendment to the registration structure for its shares, whereby all shares are primarily held and settled within the Depository Trust Company in the United States and secondarily held and settled in VPS through a central securities depository link, has now been successfully completed.

Due to technical settlement requirements in the VPS while the Conversion was implemented, a suspension in trading of the Company’s shares on Euronext Expand Oslo took place from and including March 28, 2023, to and including March 29, 2023 (the “Trading Suspension”).

The Trading Suspension has now concluded, and the Company’s shares will resume normal trading from start of trading on Euronext Expand Oslo today, March 30, 2023.

As previously announced, the Company’s shares will resume trading with the new ticker “HSHP”.

On March 27, 2023, the Company announced a launch of an initial public offering in the United States (the “Offering”). The pricing of the Offering is expected to be fixed and announced after the close of business in the US on March 30, 2023. The initial public offering price will be determined based on a book building process and is expected to be at or close to the closing price of the Company’s shares on the Euronext Expand in Norway on the most recent trading date prior to the pricing date of the Offering.

A registration statement relating to securities in the Offering has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has two vessels in operation and ten Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.

For further information, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, March 27, 2023

Himalaya Shipping Ltd. (“Himalaya Shipping” or the “Company”), an independent bulk carrier company with two dual fueled Newcastlemax vessels in operation and 10 dual fueled Newcastlemax dry bulk vessels under construction at New Times Shipyard in China expected to be delivered between April 2023 and July 2024, announced today it has launched the initial public offering (the “Offering”) of $45,000,000 of its common shares. Himalaya Shipping will also grant the underwriters of the Offering a 30-day option to purchase up to an additional $6,750,000 of common shares, solely to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions.

The initial public offering price will be determined based on a book building process and is expected to be at or close to the closing price of its shares on the Euronext Expand in Norway on the most recent trading date prior to the pricing date of the Offering.

Himalaya Shipping intends to use the net proceeds of the Offering for general corporate purposes, which may include funding acquisitions of vessels on order or maintaining liquidity, repayment of indebtedness and funding its working capital needs.

The Company has applied to list its common shares on the New York Stock Exchange under the ticker symbol “HSHP.” Following the Offering, Himalaya Shipping will continue to be listed on the Euronext Expand in Norway under the ticker “HSHP”.

DNB Markets will act as sole global coordinator, joint bookrunner and representative of the underwriters; Clarksons Securities will act as qualified independent underwriter and joint bookrunner; ABG Sundal Collier ASA, Arctic Securities, BTIG and Fearnley Securities will act as joint bookrunners; and Cleaves Securities AS will act as co-manager for the Offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The Offering will be made only by means of a preliminary prospectus, copies of which may be obtained, when available, from: the SEC at www.sec.gov, and from: DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities in the United States will be made in accordance with the registration requirements of the Securities Act of 1933 and if made in any other state or jurisdiction will be made in accordance with the securities laws of any such state or jurisdiction.

This press release shall not constitute an offer to subscribe to or a solicitation of an offer to subscribe to securities in any member state within the European Economic Area (“EEA”) in which such offer or solicitation is unlawful, unless in reliance upon applicable EEA prospectus exceptions, whereby no EEA prospectus, registration or similar action would be required within EEA.

The Company’s Board has considered the Offering in light of the equal treatment obligations under the Norwegian Securities Trading Act, the rules on equal treatment under Oslo Rule Book II for companies listed on the Oslo Stock Exchange and the Oslo Stock Exchange’s Guidelines on the rule of equal treatment, and deems that the proposed Offering is in compliance with these obligations. The Company’s Board is of the view that it will be in the common interest of the Company and its shareholders to raise equity through the Offering, in particularly in light of the current market conditions and the purpose for which the funds are raised. By structuring the equity raise as an offering in the United States, the Company believes it will be in a position to raise equity efficiently and in a timely manner, with a lower discount to the current trading price, and with a significantly reduced completion risk compared to a rights issue in the Norwegian market. It has also been taken into consideration that the Offering is based on a publicly announced bookbuilding process. As the Offering is structured to ensure that a market-based subscription price is achieved, it is currently not planned to conduct a subsequent repair offering directed towards shareholders not participating in the Offering.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590