Safe Bulkers, an international provider of marine drybulk transportation services, announced that it has filed a prospectus supplement with the Securities and Exchange Commission, under which it may offer and sell shares of its common stock having an aggregate offering price of up to $23,500,000 from time to time through an “at-the-market” equity offering program. The timing of any sales will depend on a variety of factors to be determined by the Company.
The Company plans to use the proceeds from the sale of Shares under the ATM Program for general corporate purposes including repayment or settlement of our financial obligations and subject to market conditions for potential acquisition of newbuild or second hand vessels.
In accordance with the terms of the ATM Program, the Company may offer and sell its Shares at any time and from time to time through DNB Markets, Inc. as its sales agent. Sales of the Shares, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.