Okeanis Eco Tankers (ECO) said Wednesday it has priced an offering of about 3.6 million common shares at $36 per share to raise gross proceeds of about $130 million.

Net proceeds will be used as partial payment for the acquisition of two new Suezmax vessels currently under construction for $99.3 million per vessel, the company said.

The vessels are expected to be delivered in Q2, but if the purchase of one or both vessels is not consummated, Okeanis said proceeds may be used for general corporate purposes.

Shares of Okeanis Eco Tankers were down 4.6% in recent premarket activity Wednesday.