Safe Bulkers, Inc. Announces Upsizing of At-the-Market (ATM) Program
May 26 2021 - 6:05PM
Safe Bulkers, Inc. (NYSE: SB) (the “Company”), an international
provider of marine drybulk transportation services, increased to
$100.0 million the maximum aggregate dollar amount of shares of the
Company’s common stock that may be sold under its previously
announced at-the-market (“ATM”) program established on August 7,
2020 with DNB Markets. Inc. (“DNB”), as sales agent.
On May 26, 2021, the Company filed a prospectus
supplement in connection with an amendment to its previously
disclosed Sales Agreement with DNB to increase the size of its
at-the-market program pursuant to which the Company may now offer
and sell, from time to time through DNB, shares of the Company’s
common stock having an aggregate offering price up to $100.0
million. As of May 25, 2021, the Company has sold approximately
6,664,774 shares of common stock under the ATM and, as a result,
shares of common stock with an aggregate offering price of up to
approximately $78.8 million remain available for sale.
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 preferred stock and
series D preferred stock are listed on the NYSE, and trade under
the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Forward-Looking StatementsThis
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.Tel.: +30 2 111 888 400Fax: +30
2 111 878 500E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:Nicolas
Bornozis, President Capital Link, Inc.230 Park Avenue, Suite 1536
New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail:
safebulkers@capitallink.com
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