Akin Gump Advises Eagle Bulk Shipping in Acquisition of Modern Ultramax Vessel
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(New York) – Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the Supramax/Ultramax drybulk segment, announced that it has purchased a high-specification 2017-built Ship Design and Research Institute (SDARI)-64 scrubber-fitted Ultramax bulkcarrier for $15 million and a warrant for 212,315 common shares of the company. A team from Akin Gump advised Eagle Bulk in the transaction.
The ship, which will be renamed the M/V Rotterdam Eagle, was constructed at Chengxi Shipyard Co. Ltd and is expected to be delivered into the company’s fleet during the second quarter of 2021.
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The Akin Gump team advising long-time client Eagle Bulk was led by Dan Fisher, leader of the firm’s integrated special situations group, and corporate partner Alan J. Feld.
The Akin Gump team has advised Eagle Bulk in a number of transactions in recent years, including the company’s common stock offering and concurrent registered direct offering in December 2020. To learn more about that transaction, please click here.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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