Why Norwegian Cruise Line Shares Are Falling

Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) shares are trading lower after the company announced a registered direct offering of common shares to certain shareholders.

Norwegian Cruise Line expects to use the net proceeds from the offering to redeem up to $236.25 million aggregate principal amount of NCL Corporation Ltd.’s (NCLC) 12.25% Senior Secured Notes due 2024 and up to $262.50 million aggregate principal amount of NCLC’s 10.250% Senior Secured Notes due 2026.

See Also: Why Roblox Shares Are Rising

Norwegian Cruise Line is the world’s third-largest cruise company by berths (at nearly 60,000), operating 28 ships across three brands (Norwegian, Oceania and Regent Seven Seas), offering both freestyle and luxury cruising.

Norwegian Cruise Line has a 52-week high of $34.48 and a 52-week low of $19.94.

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