A New York hedge fund has unveiled a bond position that could give it a nearly 5.4% stake in Eagle Bulk Shipping if the debt securities are converted ahead of a looming takeover by larger Star Bulk Carriers.
Walleye Capital, a multi-strategy investment firm with Minnesota roots, told US securities regulators that its position in Connecticut-based Eagle Bulk’s convertible notes would give it more than 563,000 shares upon conversion.
