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

Genco Shipping & Trading Limited ("Genco")

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.