Pangaea Logistics Solutions Ltd. (PANL): M&A transaction — Pangaea Logistics completes acquisition of 15 handy-size dry bulk vessels from SSI

Pangaea Logistics Solutions Ltd.

Issued 18,059,342 shares to Strategic Shipping Inc.; total shares outstanding now 64,961,433.
Special meeting on Dec 30, 2024 approved issuance: 34,592,844 for, 194,197 against, 54,334 abstain.
Acquisition adds 15 handy-size dry bulk vessels to Pangaea's fleet.
Deal previously announced Sep 23, 2024; completion on Dec 30, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Pangaea Logistics Solutions Ltd. completed an acquisition involving Strategic Shipping Inc. for 18,059,342 shares of its common stock (closed 2024-12-30).

Action: acquisition
Counterparty: Strategic Shipping Inc.
Consideration: 18,059,342 shares of its common stock
Closing: 2024-12-30

Exact text from the filing

Renaissance Holdings LLC, a wholly-owned subsidiary of SSI, and Renaissance Merger Sub LLC, a wholly-owned subsidiary of the Company, the Company issued to SSI an aggregate of 18,059,342 shares of its common stock. Following the consummation of the Transaction, the Company has a total of 64,961,433 shares of common stock issued and outstanding. For additional

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Source: SEC EDGAR

accession 0000919574-24-007335

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