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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 5:48 AM

Slide #249. Safe Bulkers, Inc. Preferred Stock Offering

Company: Safe Bulkers, Inc. (NYSE:SB)
Date announced: 4/30/2014
Shares Offered: 2,000,000
Date of Pricing: 4/30/2014
Price Per Share: $25
Preferred Stock Offering Details: Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it plans to offer its Series C Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the "Series C Preferred Shares") to the public (the "Public Offering"). In connection with the Public Offering, the Company intends to grant the underwriters a 30-day option to purchase additional Series C Preferred Shares solely to cover over-allotments, if any. - updated 5/1 - Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that its public offering (the "Public Offering") of 2,000,000 shares of its 8% Series C Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the "Series C Preferred Shares") was priced at $25 per share. The gross proceeds from the Public Offering before the underwriting discount and other offering expenses are expected to be approximately $50 million. The offering is expected to close on or about May 7, 2014, subject to customary closing conditions.

Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for consumers of marine drybulk transportation services. As of Feb. 17, 2017, Co. had a fleet of 38 drybulk vessels, with an aggregate carrying capacity of 3,421,600 dwt and an average age of 6.6 years. Co. deploys its vessels on both period time charters and spot time charters. The vessels on period time charters provide Co. with relatively stable cash flow and utilization rates, while the vessels in the spot market allow Co. to maintain its flexibility in low charter market conditions.

Preferreds: SB.PRB, SB.PRC, SB.PRD


Open the SB Page at Ru Back Packer »

Name: Safe Bulkers Inc
Website: safebulkers.com
Sector: Shipping
Number of ETFs Holding SB: 8 (see which ones)
Total Market Value Held by ETFs: $7,920,453
Total Market Capitalization: $373,000,000
% of Market Cap. Held by ETFs: 2.12%

Open the SB Page at Ru Back Packer (in a new window) »

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