Safe Bulkers Announces Pricing of its Public Offering of Common Stock

Safe-Bulkers-Venus-Heritage

[UPDATE] Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that its public offering of 13,600,000 shares of its Common Stock, par value $0.001 per share, was priced at $1.10 per share.

The gross proceeds from the public offering before the underwriting discount and other offering expenses are expected to be approximately $14,960,000. The offering is expected to close on or about December 9, 2016, subject to customary closing conditions.

An entity owned and controlled by Polys Hajioannou, the chief executive officer of the Company, will invest in our Common Stock through the purchase of 2,727,272 shares of Common Stock in the public offering.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,040,000 shares of the Common Stock solely to cover over-allotments, if any.

The Company plans to use the net proceeds of the offering for the acquisition of secondhand vessels, capital expenditures and for other general corporate purposes, which may include repayment or settlement of its financial obligations.

Stifel, Nicolaus & Company, Incorporated and DNB Markets, Inc. are acting as joint bookrunners of the Public Offering, which is being made under an effective shelf registration statement. Seaport Global Securities LLC is acting as co-manager of the public offering.

Our previous report:

Safe Bulkers, an international provider of marine drybulk transportation services, announced that it plans to offer its Common Stock, par value $0.001 per share, to the public. In connection with the public offering, the Company intends to grant the underwriters a 30-day option to purchase additional Common Stock solely to cover over-allotments, if any.

An entity owned and controlled by Polys Hajioannou, the chief executive officer of the Company, will concurrently invest in our Common Stock through the purchase of shares of Common Stock either in the public offering or through a private placement to be consummated concurrently with the public offering at the public offering price.

The Company plans to use the net proceeds of the offering for the acquisition of secondhand vessels, capital expenditures and for other general corporate purposes, which may include repayment or settlement of its financial obligations. Stifel, Nicolaus & Company, Incorporated and DNB Markets, Inc. are acting as joint bookrunners of the public offering, which is being made under an effective shelf registration statement. Seaport Global Securities LLC is acting as co-manager of the public offering.

LEAVE A COMMENT

×

Comments are closed.