Eagle Bulk has agreed to issue a private placement of its securities to raise around $6.3m, which it says will be used in part to charter in additional vessels.
Shares in Eagle Bulk’s 15% cumulative non-participating redeemable series A preferred stock will be sold to undisclosed investors at $1,000 per share, with a 1.0% original issue discount.
“The proceeds are expected to contribute to Eagle Bulk’s financial capacity and flexibility and to be used for general corporate purposes and business initiatives, including the procurement of chartered tonnage to supplement the owned fleet,” the NASDAQ-listed company said today.
