2023-03-27 15:53:27 ET
Eagle Bulk Shipping ( NYSE: EGLE ) -2.8% in Monday's trading after it filed for a $750M mixed shelf of common and preferred stock, debt securities, warrants and purchase contracts offered by the company, as well as nearly 3.79M common shares offered by shareholder Oaktree Capital Management.
Eagle Bulk ( EGLE ) will not receive any proceeds from the sale of any securities by the selling shareholder.
Eagle Bulk Shipping ( EGLE ) sold off after Q4 earnings missed expectations by a wide margin due to a combination of lower charter rates and unusually high operating expenses, but the stock's post-earnings selloff provides a buying opportunity, Henrik Alex writes in an analysis posted recently on Seeking Alph a.
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Eagle Bulk Shipping slides after filing for $750M mixed shelf