---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-24-000131"
form_type: "8-K/A"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2024-11-26T23:59:59+00:00"
generated_at: "2026-05-29T17:52:21.317302+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Pangaea Logistics files Renaissance 2023 financials for 15-vessel acquisition; revenue $83.4M but net loss $2.9M

## Summary
- Renaissance 2023 audited financials: revenue $83.4M, net loss $2.9M, total assets $220.7M, total liabilities $133.2M.
- Merger consideration to be paid in PANL common shares based on NAV-to-NAV exchange ratio; shares unregistered under Securities Act.
- Pro forma unaudited combined financials for year ended Dec 2023 and nine months ended Sep 2024 filed as Exhibit 99.3.
- Transaction subject to shareholder approval under Nasdaq Listing Rule 5635; proxy statement to be filed.
- Renaissance had net current liabilities of $15.6M as of Dec 2023; shareholder agreed to convert due amount to equity.

## SEC filing metadata
- accession: 0001606909-24-000131
- form_type: 8-K/A
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2024-11-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690924000131/0001606909-24-000131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690924000131/panl-20240923.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-24-000131
- JSON: https://secwatch.observer/filing/0001606909-24-000131.json
- Plain text: https://secwatch.observer/filing/0001606909-24-000131.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.