Deal sells common shares at $0.15 apiece through Fearnley Securities
By Devika Patel
Knoxville, Tenn., July 11 – Eagle Bulk Shipping, Inc. arranged a $3 million private placement of stock on July 10, according to an 8-K filed Monday with the Securities and Exchange Commission. Fearnley Securities Inc. is the agent.
The company will sell common shares at $0.15 apiece. The price per share is a 59.46% discount to the July 8 closing share price of $0.37.
Proceeds will contribute to Eagle Bulk’s financial capacity and flexibility, to be used for the acquisition of dry bulk vessels and for general corporate purposes.
Eagle Bulk is a Marshall Islands corporation based in New York that owns dry bulk vessels and transports bulk cargoes.
| Issuer: | Eagle Bulk Shipping, Inc.
|
| Issue: | Common shares
|
| Amount: | $3 million
|
| Price: | $0.15
|
| Warrants: | No
|
| Agent: | Fearnley Securities Inc.
|
| Pricing date: | July 10
|
| Stock symbol: | Nasdaq: EGLE
|
| Stock price: | $0.37 at close July 8
|
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