4//SEC Filing
Eagle Bulk Shipping Inc. 4
Accession 0001437749-16-036316
CIK 0001322439operating
Filed
Aug 2, 8:00 PM ET
Accepted
Aug 3, 5:05 PM ET
Size
7.7 KB
Accession
0001437749-16-036316
Insider Transaction Report
Form 4
Leand Paul M. Jr.
Director
Transactions
- Award
Common Stock
2016-08-02+984,536→ 984,536 total - Award
Common Stock
2016-08-02$0.15/sh+666,667$100,000→ 1,651,203 total
Footnotes (3)
- [F1]At a Special Meeting of Shareholders (the "Shareholder Meeting") of Eagle Bulk Shipping Inc. (the "Issuer") on August 2, 2016, the shareholders of the Issuer approved the issuance of 984,536 shares of the Issuer's common stock to Paul M. Leand, Jr., the Chairman of the Issuer's Board of Directors (the "Board"), as partial consideration for Mr. Leand's participation as a lender in a loan to the Issuer pursuant to the Second Lien Loan Agreement (the "Second Lien Loan Agreement"), dated as of March 30, 2016, by and among Eagle Shipping LLC, a wholly-owned subsidiary of the Issuer, as borrower, certain of its subsidiaries, as guarantors, certain lenders thereunder (the "Second Lien Lenders") and Wilmington Savings Fund Society, FSB as agent for the Second Lien Lenders. The issuance of the shares of common stock to Mr. Leand pursuant to the Second Lien Loan Agreement was previously approved by the Issuer's Board and was conditioned upon the approval of the Issuer's shareholders at the Shar
- [F2]The amount of shares of common stock beneficially owned by Mr. Leand will be adjusted in proportion to the ratio to be implemented pursuant to the Issuer's reverse stock split that was approved by the Issuer's Board and the Issuer's shareholders at the Shareholder Meeting.
- [F3]At the Shareholder Meeting, the Issuer's shareholders also approved the issuance of an aggregate of 666,667 shares of common stock to Mr. Leand pursuant to the Common Stock Purchase Agreement (the "Common Stock Purchase Agreement"), dated as of July 1, 2016, by and among the Issuer and the purchasers party thereto. The issuance of the shares of common stock to Mr. Leand pursuant to the Common Stock Purchase Agreements was previously approved by the Issuer's Board and was conditioned upon, among other things, the approval of the Issuer's shareholders at the Shareholder Meeting.
Documents
Issuer
Eagle Bulk Shipping Inc.
CIK 0001322439
Entity typeoperating
Related Parties
1- filerCIK 0001322439
Filing Metadata
- Form type
- 4
- Filed
- Aug 2, 8:00 PM ET
- Accepted
- Aug 3, 5:05 PM ET
- Size
- 7.7 KB