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Safe Bulkers raises $57.5m from public offering

Safe Bulkers raises $57.5m from public offering
Safe Bulkers has raised $57.5m from a public offering of series C preferred shares.

The New York Stock Exchange listed dry bulk shipowner sold 2.3m shares at a price of $25 per share raising gross proceeds of $57.5m.

“The company plans to use the net proceeds of the public offering for vessel acquisitions, capital expenditures and for other general corporate purposes, which may include the repayment of indebtedness,” Safe Bulkers said.

The company has a fleet of 31 bulkers with a further 13 on order for delivery by 2017.