Overseas Shipholding Files To Raise Capital (OSG)

Overseas Shipholding Group, Inc. (NYSE: OSG) has filed to raise capital in a $500 million securities shelf registration statement with the Securities and Exchange Commission.  While not imminent, it will allow the shipping outfit to sell up to $500 million of any combination of the following securities: Common Stock, Preferred Stock, Debt Securities, Warrants, and/or Units.  At $10.27, the 52-week trading range is $9.05 to $35.91.  Volume is too thin to count, but the pre-market indication has the shares down about 4% and that gets it close to a 52-week high.  The company’s market capitalization rate is $313 million and the average volume is about 800,000 shares per day.