Safe Bulkers, Inc. Announces At-The-Market Equity Offering Program
August 10 2020 - 9:10AM
Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that it has filed a prospectus supplement with the Securities and
Exchange Commission (“SEC”), under which it may offer and sell
shares of its common stock (“Shares”) having an aggregate offering
price of up to $23,500,000 from time to time through an
“at-the-market” equity offering program (the ATM Program”).
The timing of any sales will depend on a variety of factors to be
determined by the Company.
The Company plans to use the proceeds from the
sale of Shares under the ATM Program for general corporate purposes
including repayment or settlement of our financial obligations and
subject to market conditions for potential acquisition of newbuild
or second hand vessels.
In accordance with the terms of the ATM Program,
the Company may offer and sell its Shares at any time and from time
to time through DNB Markets, Inc. as its sales agent. Sales of the
Shares, if any, will be made by means of ordinary brokers’
transactions on the New York Stock Exchange or otherwise at market
prices prevailing at the time of sale, at prices related to the
prevailing market prices, or at negotiated prices.
The prospectus supplement and accompanying base
prospectus relating to the ATM Program have been filed with the SEC
and are available at the SEC’s website at http://www.sec.gov.
Copies of the prospectus supplement and accompanying base
prospectus relating to the ATM Program may also be obtained from
DNB Markets at 200 Park Ave, Floor 31, New York, NY 10166,
telephone: 212-681-3800.
This press release is for informational purposes
only and is not an offer to sell or the solicitation of an offer to
buy any Shares of the Company, which is made only by means of the
prospectus supplement and base prospectus. There will be no
sale of Shares in any jurisdiction in which the offer, solicitation
of an offer to buy or sale would be unlawful.
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 marine drybulk
transportation services. The Company's common stock, Series C and
Series D preferred stock is listed on the NYSE, where it trades
under the symbols “SB”, “SB.PR.C” and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, the Company’s growth
strategy and measures to implement such strategy, including
expected vessel acquisitions and entering into further time
charters. 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. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of the Company. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, changes in
the demand for drybulk vessels, competitive factors in the market
in which the Company operates, risks associated with operations
outside the United States and other factors listed from time to
time in the Company’s filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
For further information please
contact:
Company Contact:Dr. Loukas
BarmparisPresidentSafe Bulkers, Inc.Athens, GreeceTel.: +30 2 111
888 400Fax: +30 2 111 878 500E-Mail: directors@safebulkers.com
Investor Relations / Media
Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230
Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax:
(212) 661-7526E-Mail: safebulkers@capitallink.com
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