Genco Shipping & Trading plans a common stock offering as it looks to finance an $141m deal for four modern bulkers.
The diversified bulker owner announced late Thursday it "commenced a public offering of common stock" with the proceeds from sales pegged for "future vessel acquisitions."
In the follow-on prospectus, Genco said it entered an agreement for the "en-bloc" purchase of four dry bulk vessels for approximately $141m using cash in hand.
