Shares of Stamford-based Eagle Bulk plunged nearly 20% in morning trading on the Nasdaq, apparently feeling the impact of an $88m fundraiser concluded in July.
Finance sources said more than 29 million Eagle Shares issued in connection with the summer private placement were blocked from trading for a mandatory six-month period that expired today.
Investors got in for $3 a share but in the meantime Eagle stock had firmed to a close of $6.46
