New York-listed Eagle Bulk Shipping has found yet another way to use its stock to support vessel acquisitions.
The Connecticut-based owner reported today that it had raised $22.5m through at-the-market (ATM) sales of 475,894 shares during May and that it put the money towards the purchase of a pair of 2015-built ultramaxes for $44m in total.
Eagle sold the stock at an average price of $47.39
