Attached files
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| EX-99.1 - DORIAN LPG LTD. | d8532741_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 2020
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DORIAN LPG LTD.
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(Exact name of registrant as specified in its charter)
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Republic of the Marshall Islands
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001-36437
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66-0818228
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(IRS employer identification no.)
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c/o Dorian LPG (USA) LLC, 27 Signal Road, Stamford, Connecticut
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06902
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(Address of principal executive offices)
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(Zip Code)
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(Registrant’s telephone number, including area code): (203) 674-9900
(Former Name or Former Address, if Changed Since Last Report): None
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common stock, par value $0.01 per share
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LPG
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01 |
Entry into a Material Definitive Agreement
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The information included in Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item
1.01.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
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On May 5, 2020, Dorian LPG Ltd. (the “Company”) announced the closing of the refinancing of the commercial tranche of
the $758 million debt financing facility that the Company entered into in March 2015.
The Company’s press release (the “Press Release”) announcing the aforementioned financing transaction is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.
| Item 8.01 |
Other Events
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The Company also announced on May 5, 2020 (i) the completion of a $71.5 million sale and bareboat charter arrangement
for its 2015-built VLGC Cresques, (ii) that the vessels Cratis and Cheyenne were recently scrubber retrofitted including special survey works and are now are back in service bringing
the Company fleet total of scrubber operating vessels to nine and (iii) that it has repurchased over $32.2 million of its common stock, or 3 million shares, at an average price of $10.77 per share during the quarter ended March 31, 2020, bringing
total repurchases under its $100 million authorization to $49.3 million.
The Press Release announcing the foregoing events is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
| Item 9.01. |
Financial Statements and Exhibits
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(d) Exhibits
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Exhibit Number
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Description
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99.1
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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May 5, 2020
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DORIAN LPG LTD.
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(registrant)
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By:
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/s/ Theodore B. Young
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Theodore B. Young
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Chief Financial Officer
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