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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

American Waterways Operators Elects Chairman

The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders

Hanjin Shipping May Get OK for Restructuring

South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line,

Bulk Carrier Trends

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

India's Highest non-coking coal discharge at Gangavaram Port

Gangavaram Port, the deepest and the most modern port in the country, has created yet another historical milestone record by discharging 1,56,339 metric tons of Non-Coking Coal from the vessel M.

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1003 sec (10 req/sec)