OceanFreight, a development stage company formed to acquire a fleet of commodities carriers, priced its 10.75 million shares at $19.00, the low end of its proposed $19.00 to $21.00 range, on Tuesday evening. The company plans to use its IPO proceeds to purchase its initial fleet. Banc of America and Cantor Fitzgerald were the bookrunners on the deal. The stock is expected to begin trading on the NASDAQ under the ticker "OCNF" on Wednesday.
