{"schema_version":"secwatch.filing_event.v1","accession":"0001606909-25-000002","form_type":"8-K","ticker":"PANL","cik":"0001606909","company_name":"Pangaea Logistics Solutions Ltd.","filed_at":"2025-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.175210+00:00","generated_at":"2026-05-28T10:45:01.416622+00:00","sec_items":["2.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Pangaea completes acquisition of 15 handy-size vessels from SSI for $271M","bullets":["Closed on Dec 30, 2024; issued 18.06M shares to SSI, representing 27.6% of post-merger common stock.","Vessels valued at ~$271M inclusive of $100M assumed vessel financing; net asset value of $171M.","Owned fleet expands to 41 ships (handy to post-Panamax) plus growing terminal operations.","Transaction funded by issuance of shares; DNB Markets acted as financial advisor, Seward & Kissel as legal counsel.","CEO Mark Filanowski cites new offerings for clients and expanded logistics capabilities."],"urls":{"canonical":"https://secwatch.observer/filing/0001606909-25-000002","json":"https://secwatch.observer/filing/0001606909-25-000002.json","markdown":"https://secwatch.observer/filing/0001606909-25-000002.md","text":"https://secwatch.observer/filing/0001606909-25-000002.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1606909/000160690925000002/0001606909-25-000002-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1606909/000160690925000002/panl-20250106.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T10:45:01.416622+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a6348e8ae282662ce30228434b3512d6332cdf72","claim":"Pangaea Logistics Solutions Ltd. completed an acquisition involving Strategic Shipping Inc. (SSI) for $271 million at the closing, inclusive of $100 million of vessel related financing agreements assumed by Pangaea, resulting in a net asset value of $171 million (closed 2024-12-30).","evidence_excerpt":"outstanding common stock immediately following the consummation of the Transaction, in exchange for the fifteen handy-size vessels. SSI’s vessels were valued at approximately $271 million at the closing, inclusive of $100 million of vessel related financing agreements assumed by Pangaea, resulting in a net asset value of $171 million. MANAGEMENT COMMENTARY “We are","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1606909/000160690925000002/0001606909-25-000002-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Strategic Shipping Inc. (SSI)"},{"label":"Consideration","value":"$271 million at the closing, inclusive of $100 million of vessel related financing agreements assumed by Pangaea, resulting in a net asset value of $171 million"},{"label":"Closing","value":"2024-12-30"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}