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Ridgebury negotiates $5.8 million equity placement with Robert Burke
By Devika Patel
Knoxville, Tenn., July 2 - Ridgebury Tankers Ltd. plans a $5.8 million private placement of stock with investor Robert Burke, according to a Form S-1 filed Friday with the Securities and Exchange Commission.
The deal will be completed alongside the company's initial public offering of stock.
Proceeds from both deals will be used to purchase vessels that will comprise the company's initial fleet, for fees and working capital purposes.
Based in Ridgefield, Conn., Ridgebury is the owner and operator of a fleet of vessels.
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