GoodBulk announces delivery of capesize vessel

The purchase – which is the sixth to deliver of the seven initial capesize vessels acquired from funds managed by CarVal Investors, LLC (CarVal) pursuant to an agreement entered into on 26 October 2017 – was financed with a combination of cash on hand, availability under existing credit facilities and the issuance of 1 547 000 new common shares to funds managed by CarVal. The vessel is expected to be employed in the spot market via the Capesize Revenue Sharing Agreement managed by C Transport Maritime SAM.

Upon delivery of the Aquasurfer and the sale of the Aquabeauty, GoodBulk will have a fleet of 19 capesize vessels, 1 panamax vessel, and 2 supramax vessels on the water, with an additional 2 capesize vessels expected to be delivered within the beginning of 2Q18.

In addition, on 2 March the company completed a fourth closing of the 20 December 2017 Rights Offering issuing 415 017 common shares for gross proceeds of US$6 320 709.

Upon delivery of the Aquasurfer and the fourth closing of the Rights Offering GoodBulk will have 26 838 727 outstanding common shares.

Upon settlement of all anticipated issuances, the company is expected to have approximately 29 537 993 common shares outstanding.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/06032018/goodbulk-announces-delivery-of-capesize-vessel/