Scorpio Bulkers Inc. Announces Termination of Common Share Offering

Monaco - Oct. 25, 2017

Scorpio Bulkers Inc. (NYSE:SALT) (the “Company”) announced today that it has determined not to proceed with its previously announced underwritten public offering of 10 million shares of common stock due to the unsatisfactory price offered to the Company.

The offering was being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. 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.


Scorpio Bulkers Inc. Announces Public Offering of Common Shares

Monaco - Oct. 24, 2017

Scorpio Bulkers Inc. (NYSE:SALT) (the “Company”) announced today that it intends to offer, issue and sell to the public 10 million shares of its common stock, par value $0.01 per share (“Common Shares”), through an underwritten public offering (the “Offering”). The net proceeds of the Offering are expected to be used for general corporate purposes, which may include the expansion of the Company’s fleet.

The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 1.5 million Common Shares.

Morgan Stanley is acting as sole book-running manager in the Offering, Clarksons Platou Securities is acting as lead manager, and Seaport Global Securities is acting as co-manager.

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 Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc., after the completion of its recent acquisition of six Ultramax vessels, will own 52 vessels, consisting of 18 Kamsarmax vessels and 34 Ultramax vessels. The Company also time charters-in one Ultramax vessel. The owned fleet will have a total carrying capacity of approximately 3.6 million deadweight tonnes upon the completion of the acquisition of the six Ultramax vessels. 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