Eagle Bulk Announces $100 Mln Private Placement of Common Stock

Vogel-Eagle-Bulk

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

The gross proceeds to Eagle Bulk will be $100 million, with use targeted for the acquisition of dry bulk vessels and general corporate purposes.

Eagle Bulk’s Board of Directors will hold a Special Meeting of Shareholders to approve this Private Placement.

The securities offered in the Private Placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

[photo:TW]

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