Himalaya Shipping Ltd. (HSHP) - Announces Pricing of Initial Public Offering in the United States

31 Mar 2023 06:04 CEST

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

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