Eagle Bulk Shipping : Adjustment of Conversion Rate on Convertible Notes

Published: 2023-08-16 14:14:04 ET EGLE

Eagle Bulk Shipping Inc. - Adjustment of Conversion Rate on Convertible Notes

Eagle Bulk Shipping Inc. (the "Company" or the "Issuer") adjusted the conversion rate applicable to its 5.00% Convertible Senior Notes due 2024. The conversion rate has been adjusted due to the Company's upcoming cash dividend payment of $0.58 per share on August 24, 2023 to shareholders of record at the close of business on August 16, 2023.

Issue description:

5.00% Convertible Senior Notes due 2024

Issuer:

Eagle Bulk Shipping Inc.

Issue amount:

USD 104.1 million

Issue date:

July 29, 2019

Maturity:

August 1, 2024

Coupon:

5.0%

Conversion Rate:

31.5446*

Conversion Price:

$31.7011*

ISIN:

US 269442AB53

*as adjusted and effective on August 15, 2023

About Eagle Bulk Shipping Inc.

Eagle Bulk Shipping Inc. ("Eagle" or the "Company") is a US-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, Eagle focuses exclusively on the versatile midsize 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.

Investor and Media [email protected] +1 203 276 8100

Source: Eagle Bulk Shipping Inc.

Disclaimer

Eagle Bulk Shipping Inc. published this content on 16 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 18:13:05 UTC.