Safe Bulkers, Inc. Announces Closing of its Public Offering of Common Stock
News Release
Safe Bulkers, Inc.
April 18, 2011
Athens, Greece, April 15, 2011 – Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an
international provider of marine drybulk transportation services, announced today the closing of
its previously announced public offering of 5,000,000 shares of common stock (the “Public
Offering”) at a price of $8.40 per share. The gross proceeds from the Public Offering before the
underwriting discount and other offering expenses were approximately $42 million.
The Company also granted the underwriters a 30-day option to purchase up to an additional 750,000
shares of the common stock.
The Company plans to use the net proceeds of the Public Offering for vessel acquisitions, capital
expenditures and for other general corporate purposes, including repayment of indebtedness.
Morgan Stanley and BofA Merrill Lynch acted as joint book-running managers and Evercore
Partners acted as co-manager of the Public Offering, which is being made under an effective shelf
registration statement.
The final prospectus supplement and accompanying base prospectus relating to the Public
Offering have been filed with the Securities and Exchange Commission (“SEC”) and are
available at the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement
and accompanying base prospectus relating to the Public Offering may also be obtained from
Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649,
Attn: Prospectus Department, email: prospectus@morganstanley.com, or BofA Merrill Lynch, 4
World Financial Center, New York, NY 10080, Attn: Prospectus Department, email:
dg.prospectus_requests@baml.com.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting
bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the
world’s largest users of marine drybulk transportation services. The Company's common stock is
listed on the NYSE, where it trades under the symbol “SB”. The Company’s current fleet consists of
16 drybulk vessels, all built post-2003, and the Company has contracted to acquire eleven additional
drybulk newbuild vessels to be delivered at various times through 2014.
international provider of marine drybulk transportation services, announced today the closing of
its previously announced public offering of 5,000,000 shares of common stock (the “Public
Offering”) at a price of $8.40 per share. The gross proceeds from the Public Offering before the
underwriting discount and other offering expenses were approximately $42 million.
The Company also granted the underwriters a 30-day option to purchase up to an additional 750,000
shares of the common stock.
The Company plans to use the net proceeds of the Public Offering for vessel acquisitions, capital
expenditures and for other general corporate purposes, including repayment of indebtedness.
Morgan Stanley and BofA Merrill Lynch acted as joint book-running managers and Evercore
Partners acted as co-manager of the Public Offering, which is being made under an effective shelf
registration statement.
The final prospectus supplement and accompanying base prospectus relating to the Public
Offering have been filed with the Securities and Exchange Commission (“SEC”) and are
available at the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement
and accompanying base prospectus relating to the Public Offering may also be obtained from
Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649,
Attn: Prospectus Department, email: prospectus@morganstanley.com, or BofA Merrill Lynch, 4
World Financial Center, New York, NY 10080, Attn: Prospectus Department, email:
dg.prospectus_requests@baml.com.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting
bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the
world’s largest users of marine drybulk transportation services. The Company's common stock is
listed on the NYSE, where it trades under the symbol “SB”. The Company’s current fleet consists of
16 drybulk vessels, all built post-2003, and the Company has contracted to acquire eleven additional
drybulk newbuild vessels to be delivered at various times through 2014.