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Safe Bulkers closes public offering

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Dry Bulk,

Dry Bulk shipping company, Safe Bulkers, has raised US$17.2 million in a public offering of 13.6 million shares, the said in a recent press release. In addition to the public offering, the underwriters also exercised in full their option to purchase just over 2 million additional shares.

According to the company, around 2.7 million shares were purchased by an “entity controlled by Polys Hajioannou”, the company’s CEO.

The company said that it plans to use the proceeds to acquire second-hand vessels, for capital expenses and for other general corporate purposes, which may include debt repayment.

Safe Bulkers is an international provider of marine dry bulk transportation services, shipping bulk cargoes, including coal, grain and iron ore.

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