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Eagle Bulk Shipping completes $88m fund raiser

Eagle Bulk Shipping has announced that it has closed the private placement of its common stock with an aggregate gross proceeds of $88m.

The company inked two fund raising deals to raise $85m and $3m respectively in July.

Eagle Bulk has sold 60.9% of its outstanding common stock through the sale of the combined $88m worth of equity, which it said “will have the effect of diluting the company’s existing shareholders that are not investors in the private placement”.

Eagle Bulk intends to use the proceeds of the private placement for the acquisition of dry bulk vessels and general corporate purposes.

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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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