Baltic Trading Ltd. (BALT) Completes Initial Public Offering
Baltic Trading Ltd. completed the sale of 16.3 million shares of its common stock at a price of $14.00 per share. This was the company’s initial public offering, and Baltic Trading Limited raised a total of $228.2 million in gross proceeds before the payment of commissions and other underwriting expenses. Morgan Stanley & Co. Inc. and Dahlman Rose & Company, LLC are the co managers of the offering and retain an option to purchase an additional 2.45 million shares from Baltic Trading Limited to cover any over allotments. Baltic Trading Limited was formed in association with Genco Shipping & Trading…