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BALT > SEC Filings for BALT > Form 8-K on 13-Nov-2013All Recent SEC Filings

Show all filings for BALTIC TRADING LTD



Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On November 13, 2013, Baltic Trading Limited (the "Company") entered into agreements (the "Acquisition Agreements") to purchase up to four 64,000 dwt Ultramax newbuilding drybulk carriers from Yangfan Group Co., Ltd. for a purchase price of $28 million per vessel, or up to $112 million in the aggregate. The Company has agreed to purchase two such vessels on a firm basis and has an option, exercisable until January 10, 2013, to purchase up to two additional such vessels. The purchases are subject to completion of customary additional documentation and closing conditions. The two vessels that the Company has agreed to acquire are expected to be delivered to the Company during the second half of 2014.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

This Current Report on Form 8-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations. Such statements are subject to various risks, uncertainties and assumptions, including market conditions. Included among the factors that, in the Company's view, could cause actual results to differ materially from the forward looking statements contained in this Current Report on Form 8-K are the following: the fulfillment of the closing conditions under, or the execution of additional documentation for, the Company's agreements to acquire vessels; completion and funding of financing on acceptable terms; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2012 and its subsequent reports on Form 10-Q and Form 8-K. There can be no assurance that the Company will be able to obtain complete financing for the vessels required under the Acquisition Agreements. The Company may be liable for damages if the vessel acquisitions fail to close as a result of the Company's unwillingness, inability or other failure to pay the purchase price under the Acquisition Agreements.

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