Safe Bulkers' Stock Offering May Fund New-buildings

MarineLink.com
Tuesday, November 12, 2013
Bulk Carrier: Photo courtesy of Safe Bulkers

Greek dry-bulk ship owners Safe Bulkers, Inc. plans to offer 5,000,000 shares of its common stock to the public.

The Company plans to use the net proceeds of the Public Offering and Private Placement for vessel acquisitions, capital expenditures and for other general corporate purposes, which may include repayment of indebtedness.

In connection with the Public Offering, the Company intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of Common Stock. Concurrently with the Public Offering, the Company is also selling through a private placement 1,000,000 shares of its Common Stock to Bellapais Maritime Inc., an entity associated with its chief executive officer, Polys Hajioannou, at the public offering price (the “Private Placement”).

Morgan Stanley and Evercore are acting as book-running managers of the Public Offering, which is being made under an effective shelf registration statement.

When available, the prospectus supplement and accompanying base prospectus relating to the Public Offering may be obtained from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649, Attn: Prospectus Department, email: prospectus@morganstanley.com, or Evercore, 55 East 52nd Street, 36th Floor, New York, NY 10055, Attn: Evercore Prospectus Department - Equity Capital Markets, email:ecm@evercore.com.
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co.

Hall Joins Bouchard Transportation

Retired Active Duty Coast Guard Commanding Officer Brian Hall has joined Bouchard Transportation Co., Inc., the nation’s largest independently-owned oceangoing petroleum barge company,

SFL Announces Sale of Three Older VLCCs

Ship Finance International Limited (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party.

Bulk Carrier Trends

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Scorpio Bulkers Gets $540m Loan for Newbuilds

Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21,

Finance

Legislation Grants Funding for EU's EMSA

EU Council Adopts Regulation on EMSA Funding The European Union Council adopted a regulation yesterday to finance the actions of the European Maritime Safety

Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co.

SFL Announces Sale of Three Older VLCCs

Ship Finance International Limited (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2194 sec (5 req/sec)