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Monaco - March 16, 2016 Scorpio Bulkers Inc. (NYSE: SALT) (the "Company") announced today that it has priced its previously announced underwritten public offering (the "Offering") of 21,000,000 shares of common stock, par value $0.01 per share (the "Common Shares"), at $3.00 per share. Scorpio Services Holding Limited and certain of the Company's directors have agreed to purchase an aggregate of 5,030,000 Common Shares at the public offering price. The Offering is expected to close on March 22, 2016. Net proceeds of the Offering are expected to be used for general corporate purposes. Clarksons Platou Securities Inc. is acting as sole bookrunner and joint lead manager in the Offering. Pareto Securities Inc. is acting as joint lead manager in the Offering. BTIG, LLC is acting as co-manager in the Offering. The Company's Common Shares trade on the New York Stock Exchange under the symbol "SALT." Scorpio Bulkers Inc. Announces Public Offering of Common Shares Monaco - March 16, 2016 Scorpio Bulkers Inc. (NYSE: SALT) (the "Company") announced today that it intends to offer, issue and sell to the public 21,000,000 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 and certain of the Company's directors have expressed an interest to purchase Common Shares at the public offering price with a value of at least $15.0 million. Clarksons Platou Securities Inc. is acting as sole bookrunner and joint lead manager in the Offering. Pareto Securities Inc. is acting as joint lead manager in the Offering. BTIG, LLC is acting as co-manager in the Offering. The Company's Common Shares trade on the New York Stock Exchange under the symbol "SALT." This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This offering is being made only by means of a prospectus supplement and accompanying base prospectus. A prospectus supplement related to the offering will be filed with the U.S. Securities and Exchange Commission (the "SEC") and will be available on the SEC's website located at www.sec.gov. When available, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained from Clarksons Platou Securities Inc., 410 Park Avenue, Suite 710, New York, NY 10022, (or by phone, toll free at 855-864-2265, or by e-mail at office.oslo@clarksons.com).; Pareto Securities Inc., 150 East 52nd Street, 29th Floor, New York, NY 10022, Attention: Audun J. Hoen (or by e-mail at audun.hoen@paretosec.com); or BTIG, LLC, 825 3rd Avenue, 6th Floor, New York, NY 10022 (or by email at USSyndicate@btig.com). About Scorpio Bulkers Inc. Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. currently owns 33 vessels, consisting of 14 Kamsarmax vessels and 19 Ultramax vessels. The Company also time charters-in three dry bulk vessels (consisting of one Supramax, one Panamax and one Kamsarmax vessels) and has contracted for 16 dry bulk vessels (consisting of seven Kamsarmax and nine Ultramax), from shipyards in Japan and China. Upon final delivery of all of the vessels, the owned fleet is expected to have a total carrying capacity of approximately 3.5 million deadweight tonnes. Additional information about the Company is available on the Company's website www.scorpiobulkers.com, which is not a part of this press release. Scorpio Bulkers Inc. press release |
