Gener8 Maritime : Launches IPO Roadshow

Gener8 Maritime, Inc. Launches IPO Roadshow

NEW YORK, June 15, 2015 /PRNewswire / -- Gener8 Maritime, Inc. ("Gener8 Maritime"), a leading U.S.-based provider of international seaborne crude oil transportation services, today announced that it has launched the roadshow for the initial public offering (IPO) of its common stock. The offering is for 15,000,000 shares, with all of the shares being offered by Gener8 Maritime, Inc. The underwriters have also been granted an option to purchase up to 2,250,000 additional shares from Gener8 Maritime to cover the over-allotment. The initial public offering price is currently expected to be between $17.00 and $19.00 per share. Gener8 Maritime Inc. has applied to list its common stock on the New York Stock Exchange under the ticker symbol "GNRT".

Citigroup Global Markets Inc., UBS Securities LLC, Jefferies LLC and Evercore Group L.L.C. are acting as joint book-running managers for the proposed offering. DNB Markets Inc. and Skandinaviska Enskilda Banken AB (publ) are acting as senior co-managers. DVB Capital Markets LLC, ABN AMRO Securities (USA) LLC, Pareto Securities AS and Axia Capital Markets, LLC are acting as co-managers.

The offering is being made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by phone at [phone]; from UBS Securities LLC, 1285 Avenue of the Americas, New York, NY 10019 Attn: Prospectus Department, or by phone at [phone]; from Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attention: Equity Syndicate Prospectus Department, or by phone at [phone]; and from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or by phone at (877)-993-2673.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Gener8 Maritime

Gener8 Maritime has a fully-delivered fleet of 46 vessels, comprised of 21 VLCC newbuildings and 25 vessels on the water consisting of seven VLCCs, 11 Suezmaxes, four Aframaxes, two Panamax tankers, and one Handymax tanker, together comprising over 10 million deadweight tons with a market-value weighted average age of less than 5 years upon delivery of the newbuildings based on current market values. Gener8 Maritime is incorporated under the laws of the Marshall Islands and headquartered in New York.

Forward Looking Statements

This press release contains forward-looking statements, which are based on management's current expectations and observations, including statements with regard to Gener8 Maritime's proposed securities offering. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially, and no assurance can be given that the proposed securities offering discussed above will be consummated on the terms described or at all. Completion of the proposed securities offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Gener8 Maritime, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Gener8 Maritime's filings with the U.S. Securities and Exchange Commission. Gener8 Maritime does not undertake the obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities of Gener8 Maritime.

SOURCE Gener8 Maritime, Inc.