AmericasDry CargoFinance and Insurance

Eagle Bulk raises cash to charter in new vessels

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.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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