The board of 2020 Bulkers has decided to issue approximately 1.15 billion new shares in connection with the acquisition of AHTS, a directed issue of USD 175 million and the acquisition of four project companies. This is stated in a press release.
Of the shares, 327.8 million relate to consideration for AHTS, 585.3 million to the directed issue and 238.7 million to the project companies. Completion of the AHTS acquisition and the issue is expected on 1 October.
An additional approximately 40.2 million consideration shares are expected to be issued during the fourth quarter following the delivery of three AHTS vessels. Approximately 55.7 million shares are also expected to be issued in connection with the subsequent acquisition of Anchor Australia, tentatively in October.
