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HomeMaritime NewsRegionsAmericasScorpio Bulkers raises $46.2m from over-allotment option

Scorpio Bulkers raises $46.2m from over-allotment option

Scorpio Bulkers raises $46.2m from over-allotment option
Underwriters for Scorpio Bulkers IPO on the New York Stock Exchange (NYSE) last month have exercised their full over-allotment option of 4.96m shares.

The exercise of the option will raise additional net proceeds of $46.2m which Scorpio Bulkers said it would use to fund newbuilding capital expenditure.

Earlier this week the company announced it was adding 22 newbuildings to its burgeoning orderbook at cost of $1.1bn. Scorpio Bulkers now has 74 vessels on order worth around $2.7bn.

Deutsche Bank Securities, Credit Suisse and RS Platou Markets AS are acting as joint book-running managers for the offering and Evercore, Global Hunter Securities, Stifel and Credit Agricole CIB are acting as co-managers for the offering.

TAGS: Dry Bulk Finance & Insurance

 

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