International Seaways, Inc. Form 8-K Filing

International Seaways, Inc. has filed a Form 8-K to report the amendment and restatement of its Amended and Restated Rights Agreement. The agreement, originally dated April 11, 2023, has been amended to extend the "Final Expiration Date" to April 8, 2029, and to increase the "Purchase Price" from $50 to $95. This Second Amended and Restated Rights Agreement aims to deter hostile takeovers by making it more difficult for any single stockholder or group to gain control of the company without offering a premium to all stockholders. The amendment was approved by the Board of Directors on April 6, 2026, and became effective on April 9, 2026. Key provisions include maintaining the 20% beneficial ownership threshold for an "Acquiring Person" status and preserving the qualifying offer and stockholder redemption features. The company is also seeking stockholder ratification for this agreement at the 2026 annual meeting.