Nordic American Offshore Ltd. (NYSE:NAO) Announces Underwriters Exercise Option to Purchase Additional Shares

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| Source: Nordic American Offshore Ltd

HAMILTON, Bermuda, June 24, 2014 (GLOBE NEWSWIRE) -- Nordic American Offshore Ltd. (the "Company" or "NAO") announced today that the underwriters of the Company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares is expected to close on June 26, 2014. After the exercise of the overallotment option, there are 23,431,370 shares in issue in NAO. The total capital inflow into NAO from the Initial Public Offering and the exercise of the overallotment is in total about $100m.

The Company intends to use the net proceeds of this offering for acquisitions and general corporate purposes, including working capital.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc. are acting as joint book-running managers and Global Hunter Securities, LLC is acting as a co-manager for the initial public offering.

Copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department, Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, tel: 1-800-221-1037, Email: newyork.prospectus@credit-suisse.com, J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204, or DNB Markets, Inc. at 200 Park Avenue, 31st Floor, New York, New York 10166 or by telephone at (212) 681-3800.

A registration statement relating to these securities has been filed with and declared effective by the SEC. The registration statement is available on the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About the Company

Nordic American Offshore Ltd. is an international offshore supply vessel company, which owns ten platform supply vessels, of which four are newbuildings to be delivered in 2015, at the earliest. The common shares of the Company are currently listed on NYSE and on the Norwegian OTC list.

Forward-Looking Statements

This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's registration statement, as amended, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release.

Contacts:
Tor--Øyvind Bjørkli, Chief Executive Officer
Nordic American Offshore Ltd.
Tel: +47 21 99 24 81 or +47 90 62 70 14
 
Jacob Ellefsen, Manager, IR and Research, Monaco 
Nordic American Offshore Ltd.
Tel: +33 678 631 959 or + 377 93 25 89 07
 
Turid M. Sørensen, Chief Financial Officer 
Nordic American Offshore Ltd.
Tel: +47 90 57 29 27
 
Gary J. Wolfe
Seward & Kissel LLP
Tel: +1 212 574 1223
 
Herbjørn Hansson, Executive Chairman
Nordic American Offshore Ltd.
Tel: +1 866 805 9504 or + 47 901 46 291

Press release PDF: http://hugin.info/159489/R/1800332/620459.pdf