Scorpio Bulkers Inc. Announces Private Placement

Monaco - November 4, 2013


On October 31, 2013, Scorpio Bulkers Inc. ("Scorpio Bulkers") (OSLO-OTC: SALT) (the "Company") completed a private placement of 32,590,411 new ordinary shares of $0.01 par value at a subscription price of NOK 54.75, raising approximately $300 million in gross proceeds (the "Private Placement"). The Shares to be issued in the Private Placement will be registered on the Norwegian Over The Counter list in Oslo on November 5, 2013 under the ticker "SALT."

The proceeds from the Private Placement will be used to part finance construction of a series of fuel efficient dry bulk vessels and for general corporate purposes.

RS Platou Markets AS acted as Sole Manager and Bookrunner in the Private Placement. ABN AMRO Bank N.V., Evercore Group L.L.C., Global Hunter Securities LLC and Skandinaviska Enskilda Banken AB (publ) acted as Co-Managers.

Scorpio Bulkers Inc. press release