Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01.Completion of Acquisition or Disposition of Assets.
On February 28, 2017, Eagle Bulk Ultraco LLC, a wholly owned
subsidiary of Eagle Bulk Shipping Inc. (the
Company), entered into a framework
agreement (the Agreement) with
Greenship Bulk Manager Pte. Ltd., as Trustee-Manager of Greenship
Bulk Trust, a Norwegian OTC-listed entity, for the purchase of
nine Crown-63 Ultramax dry bulk sister vessels built between 2012
and 2015 (each a Vessel, and
collectively, the Vessels). The
aggregate purchase price for the nine Vessels is $153.0 million.
The allocated purchase price for each Vessel is $17.0 million.
On June 9, 2017, the Company completed the acquisition of the
fifth Vessel (the Acquisition). The
remaining Vessels are expected to be delivered charter free
between the current date and September 2017.
This summary of the Agreement does not purport to be complete,
and is qualified in its entirety by reference to the text of the
Agreement, a copy of which was filed as Exhibit 10.1 to the
Companys Quarterly Report on Form 10-Q on May 9, 2017 and is
incorporated into this Item 2.01 by reference.
Item 7.01.Regulation FD.
On June 9, 2017, the Company issued a press release announcing
the closing of the Acquisition. A copy of the press release is
attached hereto as Exhibit 99.1 hereto and is incorporated into
this Item 7.01 by reference.
The information in this Item 7.01 of this Current Report on Form
8-K, including the exhibit, shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), or
otherwise subject to the liabilities of such section, nor shall
it be deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as expressly set forth by specific reference in such a filing. By
filing this Current Report on Form 8-K and furnishing this
information, the Company makes no statement or admission as to
the materiality of any information in this Item 7.01 or the
exhibit attached hereto.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits.
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Description |
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2.1 |
Framework Agreement, dated as of February 28, 2017, by and |
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99.1 |
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Press release, issued by Eagle Bulk Shipping Inc., dated |