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Scorpio Bulkers Raise Scope of IPO

Scorpio Bulkers Inc. say it has increased the size of its public offering from the initially announced 15,500,000 common shares to 31,300,000 common shares for gross proceeds of $305,175,000. The Company has granted the underwriters a 30-day option to purchase up to 4,695,000 additional common shares, and they say they plan to use all of the net proceeds of this offering to fund newbuilding vessel capital expenditures.