Steven Tananbaum and his GoldenTree Asset Management have plopped down $1.67m for preferred shares in Eagle Bulk Shipping.
The US hedge fund revealed today that it purchased nearly 1,690 of the Series A shares issued last week.
The purchase is subject to closing conditions, GoldenTree said in a filing with the US Securities & Exchange Commission.
Last week, New York-listed Eagle Bulk raised gross proceeds of $6.3m
