The three ships are the Crown-58 supramax bulkers built in 2011 at Yangzhou Dayang Shipbuilding in China. They are also sister vessels to 17 Crown-58 supramax bulkers currently operating in Eagle’s fleet.
The three vessels are expected to be delivered to Eagle between March and May 2021.
The common shares are issuable upon exercise of warrants on a pro-rata basis in connection with each vessel delivery.
The ships will be renamed Montauk Eagle, Newport Eagle, and Sankaty Eagle.
Eagle’s fleet will total 52 ships with this latest acquisition, including 27 which have been acquired over the last four years.
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