Genco Shipping & Trading Ltd filed for resale by selling shareholders of up to 27.1 million shares of common stock.
A relevant SEC filing reads:
This prospectus relates to the offer and sale, from time to time, by the selling shareholders named herein, of up to 27,061,856 shares of our common stock that were issued upon the conversion of the Series A Preferred Stock that we issued in a private placement in November 2016. We will not receive any proceeds from the sales of shares of our common stock by the selling shareholders.
To the extent required, we will provide specific terms of any offering and the offered securities in supplements to this prospectus. Any prospectus supplement may also add, update or change information contained in this prospectus. You should read this prospectus and any prospectus supplement, as well as the documents incorporated or deemed to be incorporated by reference in this prospectus, carefully before you invest.
Our principal executive offices are located at 299 Park Avenue, 12th Floor, New York, New York 10171, and our telephone number is (646) 443-8550.
Our common stock is currently listed and traded on the New York Stock Exchange (the “NYSE”) under the trading symbol “GNK.”
The selling shareholders are offering these shares of common stock. The selling shareholders may sell all or a portion of these shares from time to time in market transactions through any market on which our common stock is then traded, in negotiated transactions or otherwise, and at prices and on terms that will be determined by the then prevailing market price or at negotiated prices directly or through or through one or more underwriters, dealers and agents. The selling shareholders will receive all proceeds from the sale of the common stock. For additional information on the methods of sale, you should refer to the section entitled “Plan of Distribution.”