Ardmore Shipping has logged a $400m shelf filing and revealed plans for a $25m at the market offering.
New York-listed Ardmore has called in Evercore Group, Jefferies and Wells Fargo Securities to handle the ATM, according to a filing to the SEC.
Ardmore has not disclosed a specific use of proceeds for any new capital raised, saying only it will be used for general corporate purposes.
Tony Gurnee-led Ardmore went public in 2013 with a $140m IPO but has not been a regular issuer of capital.
It last tapped the market when it raised $64.1m from a follow-on officering in 2016 as part of its purchase of the Frontline MR fleet.
Of the banks involved in its IPO, only Evercore is also taking part in the ATM.
Ardmore has a fleet of 25 tankers on the water, which VesselsValue prices at $574.61m.
Since buying the six Frontline MRs in 2016, Ardmore purchased a single tanker in early 2018.
However, gossips had thrown Ardmore's name into the picture as a possible consolidator in a market with some known targets, including Diamond S Shipping.
The shipowner had cash and cash equivalents of $47.9m at the end of the second quarter.
