Dvb Capital Markets News

Baltic Trading Limited has successfully completed its previously announced public offering, issuing 12,650,000 new shares of common stock, which included the exercise in full of the underwriters' option to purchase up to 1,650,000 shares of common stock. Gross proceeds of the offering were approximately $58.2 million. Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering, and DVB Capital Markets LLC, Cowen and Company, LLC, and Clarkson Capital Markets LLC acted as co-managers for the offering.

Baltic Trading say they intend to use the net proceeds from the offering for future vessel acquisitions or as working capital and for general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC is acting as co-manager for the offering. Baltic Trading has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering) with the U.S. Securities and Exchange Commission for the offering to which this communication relates. Baltic Trading Limited is a drybulk company focused on the spot charter market. The companhy transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes.

Nicosia, Cyprus – Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, today announced that DryShips Inc.’s previously announced public offering of Ocean Rig common shares has been upsized to 10,000,000 common shares and priced at a price to the public of $16.25 per share. All net proceeds from the sale of the common shares will be received by DryShips as the selling shareholder. The offering is expected to close on April 17, 2012. DryShips has also granted the underwriters a 30-day option to purchase up to 1,500,000 additional common shares. Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering…

Athens, Greece – Dry Ships Inc., a global provider of marine transportation services for dry bulk and petroleum cargoes and off-shore contract drilling oil services, announced that it is offering 9,000,000 common shares of Ocean Rig UDW Inc. (“Ocean Rig”) which it owns in an underwritten public offering pursuant to Ocean Rig’s registration statement on Form F-1, filed with the Securities and Exchange Commission. Dry Ships also intends to grant the underwriters a 30-day option to purchase up to 1,350,000 additional common shares to cover over-allotments. Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering…

FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced that the underwriters of its recent public offering of 11,000,000 shares of common stock have fully exercised their over-allotment option to purchase an additional 1,650,000 shares of common stock at a price of $8.25 per share. The offering of the additional 1,650,000 shares of common stock recently closed. This additional purchase increased the aggregate number of shares sold in the offering to 12,650,000, resulting in total net proceeds from the stock offering after deducting underwriting discounts and commissions, but before expenses, of approximately $97m. Credit Suisse and Cantor Fitzgerald & Co.

FreeSeas Inc. (Nasdaq:FREE, Nasdaq:FREEW, Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced the closing of the sale of 11,000,000 shares of common stock in a public offering at $8.25 per share. Total net proceeds from the stock offering after deducting underwriting discounts and commission, but before expenses, are expected to be approximately $84.4m. Credit Suisse and Cantor Fitzgerald & Co. served as the joint book running managers, and Oppenheimer & Co. and DVB Capital Markets served as the co-managers. FreeSeas has granted the underwriters an option to purchase an additional 1,650,000 shares of FreeSeas common stock at the public offering price to cover any over-allotments, exercisable within 30 days.

FreeSeas Inc., a provider of seaborne transportation for drybulk cargoes, today announced the pricing of its follow-on offering of 11,000,000 shares of its common stock at a price of $8.25 per share. Credit Suisse and Cantor Fitzgerald & Co. are the joint book running managers and Oppenheimer & Co., and DVB Capital Markets are co-managers. FreeSeas has granted the underwriters an option to purchase an additional 1,650,000 shares of FreeSeas common stock at the public offering price to cover any over-allotments, exercisable within 30 days.