Scorpio Bulkers' Stock Placement Raises US$300-million

Scorpio Bulkers Inc. has completed their private placement of 33,400,000 new ordinary shares of $0.01 par value at a subscription price of NOK 53.50, raising approximately $300 million in gross proceeds.

The proceeds from the Private Placement, say Scorpio, will be used to part finance construction of a series of fuel efficient dry bulk vessels and for general corporate purposes.

RS Platou Markets AS acted as Sole Manager in the Private Placement.

www.scorpiobulkers.com