Genco Shipping & Trading Limited Announces $50M Share Common Stock Offering

Genco Shipping & Trading Limited ("Genco") (NYSE: GNK) today announced that it has commenced a public offering of common stock. Genco plans to offer, subject to market and other conditions, $50 million in shares of its common stock. Genco intends to use the net proceeds from the offering for general corporate purposes.

Genco expects to grant the underwriters 30-day options to purchase up to an additional $7.5 million in shares of common stock offered by Genco.

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