Eagle bulk shipping inc. announces common stock offering and concurrent registered direct offering

Stamford, conn., dec. 17, 2020 (globe newswire) -- eagle bulk shipping inc. (nasdaq: egle) (“eagle bulk” or the “company”), one of the world's largest owner-operators within the supramax / ultramax drybulk segment, today announced that it has commenced an underwritten public offering of its common stock. concurrently with this offering of common stock and by means of a prospectus supplement and accompanying prospectus, the company is offering to sell its common stock directly to an institutional investor that is a current shareholder, in a registered direct offering in an aggregate amount equal to what is not sold in this offering. the company intends to use the net proceeds from the offerings to finance the acquisition of modern ultramax vessels and/or general corporate purposes. in connection with the underwritten public offering, the company expects to grant the underwriters a 30-day option to purchase additional shares of the company's common stock.
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