Baltic Trading to raise $55 million

SEPTEMBER 20, 2013 — Peter Georgiopoulos’s Baltic Trading Limited (NYSE: BALT) today announced the pricing of its current public offering of common stock.  Baltic Trading agreed to sell 12,000,000 shares of common stock at a public offering price of $4.60 per share. Total gross proceeds from the offering will be approximately $55.2 million.  The offering is expected to close on September 25, 2013, subject to the satisfaction of customary closing conditions. Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes.

Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC and DnB Markets, Inc. are acting as co-manager for the offering.

Baltic Trading Limited is a dry bulk company focused on the spot charter market. Its current fleet consists of two Capesize, four Supramax and five Handysize vessels with an aggregate carrying capacity of approximately 736,000 dwt.