UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
On December 17, 2020, Eagle Bulk Shipping Inc. (the “Company”) entered into an equity commitment agreement (the “Agreement”) with GoldenTree Asset Management LP, on behalf of certain funds and accounts for which it serves as investment manager (“GoldenTree”), in connection with the Company’s registered underwritten public offering launched on December 17, 2020. Pursuant to the Agreement, GoldenTree has agreed to purchase shares of the Company’s common stock at a price per share of $18.10, in an aggregate amount equal to shares that are not sold in the concurrent underwritten public offering, up to $25,000,000. In consideration for providing this commitment, GoldenTree will receive an availability premium of $0.85 per share for any shares of common stock that GoldenTree purchases.
Forward-Looking Statements
Matters discussed in this Current Report on Form 8-K may constitute forward-looking statements. Forward-looking statements reflect management’s current expectations and observations with respect to future events and financial performance. Where the Company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, the Company’s forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company’s financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. The Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EAGLE BULK SHIPPING INC. | ||||||
| (registrant) | ||||||
| Dated: December 17, 2020 | By: | /s/ Frank De Costanzo | ||||
| Name: | Frank De Costanzo | |||||
| Title: | Chief Financial Officer | |||||