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Scorpio Bulkers raising cash with new share offering

NYSE-listed Scorpio Bulkers on Tuesday announced it will make a public offering of 20 million shares of its common stock.

The company will also grant underwriters a 30-day option to purchase up to an additional 3 million common shares.

Monaco-headquartered Scorpio, which also has principal offices in New York, says proceeds of the offering will be used for general corporate purposes.

US-based Scorpio Services Holding, a significant minority shareholder in Scorpio Bulkers, has expressed an interest to buy $15m-worth of its common shares.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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