Eagle Bulk Shipping Inc. Announces Effectiveness of Previously Announced Reverse Stock Split
September 15 2020 - 9:00AM
Eagle Bulk Shipping Inc. (NASDAQ: EGLE) (“Eagle Bulk”, “Eagle” or
the “Company”), one of the world’s largest owner-operators within
the Supramax / Ultramax drybulk segment, today announced the
effectiveness, as of 9:00 a.m. Eastern time, of the previously
announced 1-for-7 reverse stock split of the Company’s issued
common stock.
Additional information about the reverse stock
split can be found in the Company’s Form 8-K that was filed with
the Securities and Exchange Commission on September 14, 2020, a
copy of which is available at www.sec.gov.
About Eagle Bulk Shipping Inc.
Eagle Bulk Shipping Inc. (“Eagle” or the
“Company”) is a U.S. based fully integrated shipowner-operator
providing global transportation solutions to a diverse group of
customers including miners, producers, traders, and end users.
Headquartered in Stamford, Connecticut, with offices in Singapore
and Copenhagen, Denmark, Eagle focuses exclusively on the versatile
mid-size drybulk vessel segment and owns one of the largest fleets
of Supramax/Ultramax vessels in the world. The Company performs all
management services in-house (including strategic, commercial,
operational, technical and administrative) and employs an active
management approach to fleet trading with the objective of
optimizing revenue performance and maximizing earnings on a
risk-managed basis. For further information, please visit our
website: www.eagleships.com.
Disclaimer: Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements that may be deemed to be “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements reflect current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
These statements may include words such as “believe,” “estimate,”
“project,” “intend,” “expect,” “plan,” “anticipate,” and similar
expressions in connection with any discussion of the timing or
nature of future operating or financial performance or other
events.
The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, examination of
historical operating trends, data contained in our records and
other data available from third parties. Although Eagle Bulk
Shipping Inc. believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, Eagle Bulk
Shipping Inc. cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results
to differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including changes in charter hire rates
and vessel values, changes in demand that may affect attitudes of
time charterers to scheduled and unscheduled drydocking, changes in
vessel operating expenses, including drydocking and insurance
costs, or actions taken by regulatory authorities, ability of our
counterparties to perform their obligations under sales agreements,
charter contracts, and other agreements on a timely basis,
potential liability from future litigation, domestic and
international political conditions, potential disruption of
shipping routes due to accidents and political events or acts by
terrorists.
Risks and uncertainties are further described in reports filed
by Eagle Bulk Shipping Inc. with the SEC.
CONTACT
Company Contact:Frank De CostanzoChief Financial OfficerEagle
Bulk Shipping Inc.Tel. +1 203-276-8100Email:
investor@eagleships.com
Eagle Bulk Shipping (NASDAQ:EGLE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Eagle Bulk Shipping (NASDAQ:EGLE)
Historical Stock Chart
From Apr 2023 to Apr 2024