Scorpio Bulkers Prices Offering Of 133 Mln Shares At $1.50/shr

(RTTNews) - Scorpio Bulkers Inc. (SALT) announced that it has priced its underwritten public offering of 133 million shares of common stock, par value $0.01 per share at $1.50 per share.

Scorpio Services Holdings Limited and certain of our executive officers have agreed to purchase an aggregate of 10 million Common Shares at the public offering price. The Offering is expected to close on June 16, 2015.

All or substantially all of the net proceeds of the Offering are expected to be used to fund installment payments due under the Company's Newbuilding Program. Any net proceeds of the Offering not used for installment payments are expected to be used for general corporate purposes and working capital.

The company has granted the underwriters a 30-day option to purchase up to an additional 19,950,000 Common Shares.