Safe Bulkers is contemplating a private Placement of approximately 12,000,000 new common shares, with the final number and Offer Price to be determined through accelerated bookbuilding. The proceeds are intended to enhance liquidity, finance the current newbuilding program and potentially support future newbuild vessel acquisitions.

Key Highlights

  • Piraeus Bank, DNB Carnegie and Fearnley Securities have been appointed to manage the placement.
  • The board will determine the number of offer shares.
  • The board will set the offer price in consultation with the managers.
  • The transaction involves common shares and is being considered as a private placement using accelerated bookbuilding.

Euro-Denominated Placement Awaits Board Decision

Safe Bulkers (NYSE: SB)’ board will determine both the number of offer shares and the offer price in consultation with those managers. The process will use accelerated bookbuilding to establish the terms. The securities are common shares, and the transaction is being considered as a private placement rather than a public offering.