New York-listed Paragon on Tuesdayannounced plans to pursue a public offering of common stock that is backed byJefferies and Maxim Group.
In a note to investors the companyindicated proceeds from the fundraiser will likely be used for “vesselacquisitions” and “general corporate purposes”.
According to a prospectus filed withsecurities regulators Paragon believes “factors” governing supply and demand inthe dry-bulk segment may cause freight rates to strengthen in the near-term, abet that seems to be one of the driving forces behind the recent dash for cash.
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