NewLead wraps $25 million private placement of convertible preferreds

Deal funds fleet growth; series A preferreds to be converted, redeemed

By Devika Patel

Knoxville, Tenn., March 10 - NewLead Holdings Ltd. said it settled a $25 million private placement of series A perpetual convertible preferred stock on March 4.

The preferreds may be converted into common stock or redeemed.

Proceeds will be used to grow the company's fleet.

Based in Athens, Greece, NewLead Holdings is an international shipping company.

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