|By PR Newswire||
|August 5, 2014 05:40 PM EDT||
ATHENS, Greece, Aug. 5, 2014 /PRNewswire/ -- Paragon Shipping Inc. (NASDAQ:PRGN) ("Paragon Shipping" or the "Company") announced today that it has priced its previously announced public offering of senior unsecured notes due 2021 (the "Notes"). The Notes will bear interest at a rate of 8.375% per year, payable quarterly on each February 15, May 15, August 15 and November 15, commencing on November 15, 2014. The Notes will mature on August 15, 2021, and may be redeemed in whole or in part at any time or from time to time after August 15, 2017. The Company has granted the underwriters a 30-day option to purchase up to an additional $3,750,000 of the Notes on the same terms and conditions. The offering is expected to close on August 8, 2014. The Company intends to use substantially all of the net proceeds from the offering for the repayment of existing indebtedness.
The Notes are expected to commence trading on the New York Stock Exchange within 45 days after the Notes are first issued. The Notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof.
Deutsche Bank Securities and Jefferies LLC are acting as joint book-running managers for the offering. Maxim Group LLC and MLV & Co. are acting as co-managers for the offering.
When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, Harborside Financial Center, 100 Plaza One, Floor 2, Jersey City, NJ 07311, or at 1-800-503-4611 or [email protected] or Jefferies LLC, Attn: Prospectus Department, 520 Madison Ave, 2nd Floor, New York, NY 10022, or at 1-877-547-6340 or [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the Notes was filed with the SEC and is effective. The offering may be made only by means of a prospectus supplement and accompanying base prospectus.
Cautionary Note Regarding Forward Looking Statements
Certain of the statements made in this press release are "forward-looking statements" as defined by U.S. federal securities laws, such as those, among others, relating to the Company's expectations regarding the completion of the proposed public offering and use of proceeds of the proposed public offering. All forward-looking statements involve risks and uncertainties. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the proposed public offering and other risks set forth in the prospectus for the offering described herein. There can be no assurance that the Company will be able to complete the proposed public offering on terms satisfactory to it, or at all.
Paragon Shipping Inc.
Allen & Caron Inc.
Rudy Barrio (Investors)
Len Hall (Media)
SOURCE Paragon Shipping Inc.
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 29, 2015 01:00 PM EST Reads: 344
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 29, 2015 01:00 PM EST Reads: 407
Nov. 29, 2015 12:45 PM EST Reads: 412
Nov. 29, 2015 12:30 PM EST Reads: 419
Nov. 29, 2015 12:00 PM EST Reads: 523
Nov. 29, 2015 11:45 AM EST Reads: 322
Nov. 29, 2015 11:30 AM EST Reads: 270
Nov. 29, 2015 10:00 AM EST Reads: 198
Nov. 29, 2015 09:45 AM EST Reads: 450
Nov. 29, 2015 09:15 AM EST Reads: 342
Nov. 29, 2015 08:45 AM EST Reads: 212
Nov. 29, 2015 08:00 AM EST Reads: 268
Nov. 29, 2015 07:00 AM EST Reads: 497
Nov. 29, 2015 06:45 AM EST Reads: 742
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 29, 2015 06:00 AM EST Reads: 375