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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Jun. 26, 2:24 AM

Slide #23. Scorpio Bulkers Inc. Secondary Offering

Company: Scorpio Bulkers Inc. (NYSE:SALT)
Date announced: 6/14/2016
Shares Offered: 20,000,000
Date of Pricing: 6/15/2016
Price Per Share: $3.05
Secondary Offering Details: Scorpio Bulkers Inc. (NYSE: SALT) (the "Company") announced today that it intends to offer, issue and sell to the public 20,000,000 shares of its common stock, par value $0.01 per share (the "Common Shares"), through an underwritten public offering (the "Offering"). The net proceeds of the Offering are expected to be used for general corporate purposes. As part of the Offering, Scorpio Services Holding Limited has expressed an interest to purchase Common Shares at the public offering price with a value of at least $15 million. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 Common Shares. -updated 6/15- Scorpio Bulkers Inc. (NYSE: SALT) (the "Company") announced today that it has priced its previously announced underwritten public offering (the "Offering") of 20,000,000 shares of common stock, par value $0.01 per share (the "Common Shares"), at $3.05 per share. Scorpio Services Holding Limited has agreed to purchase an aggregate of 5,250,000 Common Shares at the public offering price. The Offering is expected to close on June 20, 2016. The net proceeds of the Offering are expected to be used for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 Common Shares.

Scorpio Bulkers is an international shipping company based in Monaco. Co.'s vessels transport a range of major and minor bulk commodities, including ores, coal, grains, and fertilizers, along worldwide shipping routes, and are, or are expected to be, employed primarily in the spot market or in spot market-oriented pools of similarly sized vessels. As of Dec. 31, 2015, Co.'s operating fleet of 36 vessels consists of 33 wholly-owned drybulk vessels and 3 chartered-in drybulk vessels. Co. also has contracts for the construction of 16 newbuilding drybulk vessels.

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Company Name:  Scorpio Bulkers Inc
Stock buyback:  SALT buyback
Website:  www.scorpiobulkers.com
Sector:  Shipping
Number of ETFs Holding SALT:  15
Total Market Value Held by ETFs:  $3.91M
Total Market Capitalization:  $43.00M
% of Market Cap. Held by ETFs:  9.10%
 

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June 26, 2016    2:24 AM Eastern
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