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Genco Shipping & Trading Limited Announces Common Stock Offering
Genco Shipping & Trading Limited announced that it has commenced a public offering of common stock. Genco plans to offer, subject to market and other conditions, $50 million in shares of its common stock. Genco intends to use the net proceeds from the offering for general corporate purposes. Genco expects to grant the underwriters 30 day options to purchase up to an additional $7.5 million in shares of common stock offered by Genco. Morgan Stanley and Co. LLC, Deutsche Bank Securities Inc., and Jefferies & Company, Inc. are acting as joint book-running managers for the offering.
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