Safe Bulkers, Inc. Announces Pricing of Its Public Offering of Common Stock

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced yesterday that its public offering of 5,000,000 shares of common stock(the "Public Offering") was priced at $8.40 per share. The gross proceeds from the Public Offering before the underwriting discount and other offering expenses are expected to be approximately $42 million.
The Company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of the common stock.
The Company plans to use the net proceeds of the Public Offering for vessel acquisitions, capital expenditures and for other general corporate purposes, including repayment of indebtedness.
Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers and Evercore Partners is acting as co-manager of the Public Offering, which is being made under an effective shelf registration statement.
Source: Safe Bulkers Inc.