Eagle Bulk raises $100m for fleet expansion

Eagle Bulk raises $100m for fleet expansion

Eagle Bulk Shipping has entered into a definitive agreement with various institutional and other accredited investors for the private placement of about 22.2m shares of its common stock at a purchase price of $4.50 per share.

Eagle Bulk will gain gross proceed of $100m, which will be used for acquisition of dry bulk vessels and general corporate purposes.

Eagle Bulk Shipping inked two fund raising deals to raise $85m and $3m respectively in July to fund vessel acquisitions.

Eagle Bulk Shipping currently operates a self-owned fleet of 41 bulkers with total capacity of 2.24m dwt.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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