Scorpio Bulkers Targets USD 500 Mn with Mixed Shelf

Monaco-based shipowner Scorpio Bulkers has filed a registration for a mixed shelf offering targeting up to USD 500 million.

The company said that the move is likely to see the company periodically offer common shares, preferred securities, debt securities, warrants, rights, purchase contracts and units.

Scorpio added that it might also offer up to 815,000 of its common shares that were previously acquired in open market.

The shipping company’s common shares are listed on the New York Stock Exchange.

Scorpio Bulkers has an operating fleet of 48 vessels consisted of 47 wholly-owned or finance leased drybulk vessels, and one time chartered-in Ultramax vessel.

In addition, the company has agreed to acquire an additional seven Ultramax vessels, which are expected to be delivered in December 2017, and one Kamsarmax vessel, being constructed at Jiangsu New Yangzijiang Shipbuilding in China, and slated for delivery in the second quarter of 2018.

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