ThePSV specialist said it plans to offer 5.8m shares in a registration statement filedwith the US Securities and Exchange Commission (SEC).
NAOsays the common shares have been approved for listing on the New York StockExchange, subject to official notice of issuance.
Sharesin the company have been trading on the Oslo over-the-counter (OTC) marketsince November 2013.
NAOcurrently owns a fleet of eight sister vessel PSVs with six on the water andtwo more to be delivered in January 2015.
The six 4,200-dwt sisters are the BlueProtector, Blue Guardian, Blue Thunder and Blue Power (all built 2013), as wellas the Blue Prosper and Blue Fighter (both built 2012).
Thecompany said it intends to use a part of the net proceeds of the offering forthe purchase of the two PSV newbuildings.
Itadded that it may use the balance of the net proceeds for the construction, ina Norwegian yard, of up to three optional PSVs.
Ifthe three optional PSVs are purchased, NAO`s fleet will equal 11 units. InNovember 2013 NAO had six PSVs.
Underwritersfor the offering are Morgan Stanley, Credit Suisse Securities, JP MorganSecurities and DNB Markets.
NATmade the surprise move into the PSV market last year, taking on a series ofspeculatively built vessels from Ulstein at a bargain price.
Itholds 26% of the Oslo OTC traded company. Omega Advisors,BHR Capital and Tufton Oceanic are among its other investors.
