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BALT > SEC Filings for BALT > Form 8-K on 9-Sep-2013All Recent SEC Filings

Show all filings for BALTIC TRADING LTD

Form 8-K for BALTIC TRADING LTD


9-Sep-2013

Completion of Acquisition or Disposition of Assets


Item 2.01. Completion of Acquisition or Disposition of Assets

On September 5, 2013, the Company completed the acquisition of the Baltic Hare, a 31,887 dwt Handysize vessel. Subsequently, on September 6, 2013, the Company completed the acquisition of the Baltic Fox, a 31,883 dwt Handysize vessel. The Company had agreed to buy both vessels under the terms of agreements that the Company entered into with subsidiaries of Clipper Group to acquire two Handysize drybulk carriers as disclosed in the Company's Current Report on Form 8-K filed on July 8, 2013. The Company paid a total purchase price of approximately $41 million for the vessels, which the Company financed with proceeds of its May 2013 equity offering and borrowings under its 2013 Credit Facility entered into on August 30, 2013 as disclosed in the Company's Current Report on Form 8-K filed on September 5, 2013.


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