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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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