Scorpio Bulkers (SALT) to Offer Common Stock

Scorpio Bulkers Inc. (NYSE: SALT) announced today that it intends to offer, issue and sell to the public $60.0 million of shares of its common stock, par value $0.01 per share (the “Common Shares”), through an underwritten public offering (the “Offering”). The net proceeds of the Offering are expected to be used for general corporate purposes. As part of the Offering, Scorpio Services Holding Limited, a related party to the Company, has expressed an interest to purchase Common Shares at the public offering price with a value of at least $15.0 million.

The Company also intends to grant the underwriters a 30-day option to purchase up to an additional $9.0 million of Common Shares.

BofA Securities, BTIG and Clarksons Platou Securities are acting as Joint Bookrunning Managers in the Offering. Pareto Securities and Arctic Securities are acting as Co-Managers in the Offering.

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