Key Developments For Paragon Shipping Inc.
Paragon Shipping Inc. (PRGN.O) (Consolidated Issue listed on NASDAQ Global Market)
Paragon Shipping Inc. Announces New Three Year Charter Agreement for Diamond Seas With Bunge S.A.
Paragon Shipping Inc. announced that it has entered into a new three year time charter contract for the Diamond Seas. The vessel has been forward fixed on period time charter for 23 to 25 months at a gross daily rate of $16,250 with Bunge S.A., who also has the option to charter the vessel for a further 11 to 13 months at a gross daily rate of $18,500 during the option period.
Paragon Shipping Inc. Announces Completion Of Controlled Equity Offering
Paragon Shipping Inc. announced the completion of its Controlled Equity Offering made pursuant to an amended sales agreement with Cantor Fitzgerald & Co. dated June 4, 2009. As announced on June 5, 2009, the Company planned to sell 10 million of its common shares from time-to-time at market prices. On September 29, 2009, the sale of the 10 million shares was completed at an average net price of $4.11, raising a total of $41.1 million in net cash proceeds. This amount, coupled with the Company's previous Controlled Equity Offering completed on June 2, 2009, generated a total of $83.75 million in net cash proceeds to the Company.
Paragon Shipping Inc. Declares Dividend
Paragon Shipping Inc. announced that its Board of Directors has declared a quarterly dividend of $0.05 per share with respect to the second quarter of 2009, payable on September 7, 2009 to shareholders of record as of the close of business on August 25, 2009.
Paragon Shipping Inc. In New Two Year Charter Pacts For Two Vessels-DJ
Dow Jones reported that Paragon Shipping Inc. has entered into new two-year time charter contracts for its Calm Seas and Coral Seas vessels. Both vessels have been forward fixed on period time charters for 23 to 26 months at a gross daily rate of $15,775 per vessel with Intermare Transport GMBH, according to a press release filed with the Securities and Exchange Commission.
Paragon Shipping Inc. Declares Dividend
Paragon Shipping Inc. announced that its Board of Directors declared a quarterly dividend of $0.05 per share with respect to the first quarter of 2009, payable on June 9, 2009 to shareholders of record as of May 29, 2009.
