TORM closes secondary sale of 9.0M Class A shares
TORM closed a secondary public offering of 9.0M Class A shares sold by an Oaktree affiliate. TORM beneficially owns ~11.06% after the transaction; the seller received no proceeds from TORM and TORM sold no shares. A 30-day option for up to 1.35M more shares was granted. J.P. Morgan was the sole underwriter.