Safe Bulkers, Inc. Announces Public Offering of Common Stock
March 12 2012 - 4:01PM
Marketwired
Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that it plans to offer 5,000,000 shares of its common stock 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 up to 750,000 additional shares of 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, which may include repayment of
indebtedness.
Morgan Stanley, BofA Merrill Lynch and Credit Suisse are acting
as book-running managers and Evercore Partners is acting as
co-manager of the Public Offering, which will be made under an
effective shelf registration statement.
The Public Offering is being made only by means of a prospectus
supplement and accompanying base prospectus. When available, the
prospectus supplement and accompanying base prospectus relating to
the Public Offering may be obtained from Morgan Stanley, 180 Varick
Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department,
email: prospectus@morganstanley.com, BofA Merrill Lynch, 4 World
Financial Center, New York, NY 10080, Attn: Prospectus Department,
email: dg.prospectus_requests@baml.com or Credit Suisse, One
Madison Avenue, New York, NY 10010, Attn: Prospectus Department,
e-mail: newyork.prospectus@credit-suisse.com.
This release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk
transportation services, transporting bulk cargoes, particularly
coal, grain and iron ore, along worldwide shipping routes for some
of the world's largest users of such services. The Company's common
stock is listed on the NYSE, where it trades under the symbol "SB."
The Company maintains its offices at 30-32 Avenue Karamanli, P.O.
Box 70837, 16605 Voula, Athens, Greece.
Forward-Looking Statements
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Exchange Act of 1933, as
amended, and in Section 21E of the Securities Act of 1934, as
amended). Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates" and variations of such words
and similar expressions are intended to identify forward-looking
statements. Statements contained in this press release are based
upon information presently available to the Company and assumptions
that the Company believes to be reasonable. The Company is not
assuming any duty to update this information should those facts
change or should the Company no longer believe the assumptions to
be reasonable. These statements are subject to risks and
uncertainties, including without limitation, general market
conditions, the market for the Company's common stock, the
performance of the Company's business and other risks detailed from
time-to-time in the Company's filings with the Securities and
Exchange Commission. There is no assurance that the Company will
complete the Public Offering or on what terms.
For further information please contact: Company
Contact: Dr. Loukas Barmparis President Safe Bulkers, Inc.
Athens, Greece Tel.: +30 (210) 899-4980 Fax: +30 (210) 895-4159
E-Mail: directors@safebulkers.com Investor Relations / Media
Contact: Matthew Abenante Capital Link, Inc. 230 Park Avenue,
Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566 Fax: (212)
661-7526 E-Mail: safebulkers@capitallink.com
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