Safe Bulkers, Inc. Announces Filing of Registration Statement for Initial Public Offering
ATHENS, GREECE--(Marketwire - May 16, 2008) - Safe Bulkers, Inc. ("Safe Bulkers")
announced today that it has filed a registration statement with the
Securities and Exchange Commission in anticipation of a planned initial
public offering of its common stock.
Safe Bulkers is an international provider of marine drybulk transportation
services, transporting bulk cargoes, such as grain, iron ore and coal,
along worldwide shipping routes for some of the world's largest users of
marine drybulk transportation services.
The initial public offering will include approximately 10,000,000 shares of
common stock. The offering may increase to approximately 11,500,000 shares
of common stock if the underwriters exercise in full their over-allotment
option. The shares are being offered by Vorini Holdings Inc. which will own
approximately 80% of the common stock following the offering and will
receive all of the proceeds. Safe Bulkers plans to list its shares on the
New York Stock Exchange under the ticker symbol "SB."
The offering will be book-run by Merrill Lynch, Pierce, Fenner & Smith
Incorporated ("Merrill Lynch") and Credit Suisse Securities (USA) LLC
("Credit Suisse"). Co-managers of the offering are Jefferies & Company,
Inc., Dahlman Rose & Company, LLC, Poten Capital Services LLC and DnB NOR
A copy of the prospectus relating to these securities may be obtained when
available from Merrill Lynch, 4 World Financial Center, New York, NY 10080
or Credit Suisse, Eleven Madison Avenue, New York, NY 10010.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time that the registration statement becomes effective.
This release shall not constitute an offer to sell, or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any
The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements involve risks
and uncertainties that could cause the outcome to be materially different.
Contact Information: For further information please contact:
Chief Executive Officer
Safe Bulkers, Inc.
Telephone:(+30) 210-895 7070
Investor Relations / Media Contact:
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526