Nordic American Offshore Limited (“NAO”) was incorporated in the Marshall Islands in 2013. In November 2013 NAO sold securities in private placement of shares to be traded in Oslo as an Over The Counter (OTC) listing. NAO raised USD 250m in equity in this offering and at the same time secured a USD 60m credit facility. Nordic American Tankers Limited (“NAT”) acted as the sponsor taking USD 65m of equity.