Eagle Bulk Raising USD 85 Mn to Buy More Vessels

Connecticut-headquartered operator of dry bulk ships Eagle Bulk Shipping has entered into a definitive agreement to raise USD 85 million through a sale of its common stock to finance the acquisition of vessels and general corporate purposes. 

The private placement price of USD 0.15 per share assumes the inclusion of 337,796,550 proposed, but not yet formally issued shares that are part of the company’s loan agreement announced in March this year.

The company’s Board of Directors has called for a shareholders’ meeting to approve the proposed issuance and a possible reverse stock split.

In May, the company reported a net loss of USD 39.3 million for the first quarter of 2016, compared to a net loss of USD 20.7 million for the comparable quarter in 2015.

Eagle Bulk currently has 43 vessels in its fleet – 41 Supramaxes, 1 Handysize and 1 Handymax.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >