Contact Information: For further information please contact: Company Contact: Dr. Loukas Barmparis President Safe Bulkers, Inc. Athens, Greece Tel.: +30 (210) 899-4980 Fax: +30 (210) 895-4159 E-Mail: directors@safebulkers.com Investor Relations / Media Contact: Ramnique Grewal Vice President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566 Fax: (212) 661-7526 E-Mail: safebulkers@capitallink.com
Safe Bulkers, Inc. Files Shelf Registration Statement
| Source: Capital Link
ATHENS, GREECE--(Marketwire - October 8, 2009) - Safe Bulkers, Inc. (the "Company") (NYSE : SB ), an international provider of marine drybulk transportation services,
announced today that it has filed a shelf registration statement on Form
F-3 with the U.S. Securities and Exchange Commission (the "SEC").
The shelf registration statement, when declared effective by the SEC, will
give the Company the ability to offer and sell up to $300,000,000 of its
securities consisting of common stock, preferred stock, warrants and
subscription rights. After the shelf registration becomes effective, the
Company may offer and sell such securities from time to time and through
one or more methods of distribution, subject to market conditions and the
Company's capital needs. The terms of any offering under the shelf
registration statement will be established at the time of such offering and
will be described in a prospectus supplement filed with the SEC prior to
completion of the offering.
Polys Hajioannou, Chairman and Chief Executive Officer, stated, "While the
Company does not currently intend to offer securities registered pursuant
to the registration statement, the registration statement provides the
Company with greater flexibility to take advantage of favorable market
conditions as they may arise."
This registration statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not be
sold nor may offers to buy be accepted prior to the time the registration
statement becomes effective. This press 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 such jurisdiction.
A copy of the prospectus included in the registration statement may be
obtained on the SEC's website at www.sec.gov. In addition, the Company
would file a prospectus supplement with the SEC in connection with any
offering under the shelf registration statement. The information on the
Company's web site is not a part of the registration statement, the
prospectus or any prospectus supplement which may be issued under the
registration statement.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation
services, transporting bulk cargoes, particularly grain, iron ore and coal,
along worldwide shipping routes for some of the world's largest users of
marine drybulk transportation services. The Company's common stock is
listed on the New York Stock Exchange, where it trades under the symbol
"SB." The Company's fleet consists of 14 drybulk vessels, all built
post-2003, and the Company has contracted to acquire additional drybulk
newbuild vessels to be delivered at various times beginning in 2009 through
2011.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Exchange Act of 1933, as amended and in the
Section 21E of the Securities Act of 1934, as amended) concerning future
events, the Company's growth strategy and measures to implement such
strategy, including expected vessel acquisitions and entering into further
time charters. Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates" and variations of such words and
similar expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given that
such expectations will prove to have been correct. These statements involve
known and unknown risks and are based upon a number of assumptions and
estimates which are inherently subject to significant uncertainties and
contingencies, many of which are beyond the control of the Company. Actual
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, the ability to satisfy
the closing conditions of the acquisition, changes in the demand for
drybulk vessels, competitive factors in the market in which the Company
operates, risks associated with operations outside the United States and
other factors listed from time to time in the Company's filings with the
Securities and Exchange Commission. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in
the Company's expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.