Eagle Bulk Shipping has closed the book on a $100m private placement first outlined in December.

Nasdaq-listed Eagle has printed 22.2 million new shares at $4.50 each, it told investors today.

Cash from the sale, Eagle’s second since it completed a restructuring last year, will be used to fund acquisitions.

Since a follow-on sale last summer, Eagle has added two modern ultramax bulkers to its fleet in deals worth around $38m.

Today