International Seaways, Inc. 8-K

What Happened

• International Seaways, Inc. announced on May 11, 2026 that it entered into an Equity Distribution Agreement with BTIG, LLC; B. Riley Securities, Inc.; Clarksons Securities, Inc.; and Fearnleys Securities, Inc. to offer and sell up to $200 million of its common stock in an “at the market” (ATM) offering. Sales, if any, will be made under the company’s May 11, 2026 prospectus supplement and its Form S-3 registration statement filed December 19, 2025. The company has not sold any shares under this agreement and has no obligation to sell any shares.

Key Details

• Offering size: up to $200,000,000 of common stock in one or more ATM transactions.
• Sales agents’ fee: up to 3.0% of the gross sales price of shares sold through each agent.
• Expense reimbursement: company may reimburse certain sales agent legal fees and expenses, capped at $65,000 (plus certain ongoing fees/disbursements).
• Prior arrangement terminated: the company terminated its prior $100 million ATM agreement dated December 20, 2023 with Evercore and Jefferies; no shares were sold under that prior program.

Why It Matters

• This agreement gives International Seaways a flexible way to raise equity capital over time at prevailing market prices, which management can use for general corporate purposes, liquidity or balance sheet needs. Because the company has no obligation to sell shares and can suspend or terminate the program, the impact on existing shareholders depends on if and when management chooses to sell stock and the amount sold.