Yesterday, Monaco-based GoodBulk Ltd. (GoodBulk) announced that it has launched its initial public offering (IPO) of 8 500 000 common shares at an anticipated initial offering price between US$15.50 to US$17.50 per common share pursuant to a registration statement filed on Form F-1 with the US Securities and Exchange Commission (SEC).
In connection with the offering, the company intends to grant the underwriters the option to purchase up to 1 275 000 additional common shares. GoodBulk has applied to list its common shares on the Nasdaq Global Select Market under the ticker symbol “GBLK”.
The company intends to use the net proceeds of the offering, together with cash on hand and additional borrowings under the company’s credit facilities, to fund the cash portion of the purchase price for the acquisition of up to five secondhand capesize dry bulk vessels and for general corporate purposes.
Morgan Stanley and Credit Suisse are acting as lead book-runners, Clarksons Platou Securities, Evercore ISI, Pareto Securities and UBS Investment Bank are also acting as book-runners, and ABN AMRO is acting as co-manager for the Offering.
According to GoodBulk, a registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
Read the article online at: https://www.drybulkmagazine.com/shipping/19062018/goodbulk-launches-ipo/