NEWPORT, R.I. - Pangaea Logistics Solutions Ltd. (NASDAQ: NASDAQ:PANL), a global maritime logistics provider, announced today the renewal of its shelf registration statement with the Securities and Exchange Commission (SEC). This renewal follows the expiration of the company's previous shelf registration on January 28, 2024.
The shelf registration statement, which is pending SEC effectiveness, allows Pangaea to offer and sell securities in the future, though the timing, size, and terms of any such offerings have not been disclosed. The company emphasized that the renewal does not constitute an immediate sale of securities and that any future offerings would be made through a prospectus and an accompanying prospectus supplement.
Pangaea Logistics Solutions operates in the dry bulk shipping sector, providing transportation for various cargoes such as grains, iron, and limestone. The company's services include cargo loading and discharge, vessel chartering, and voyage planning.
The renewal of the shelf registration is a common financial practice that gives companies flexibility in accessing capital markets efficiently. However, the company's press release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. These statements do not guarantee future performance and are subject to change.
This update is based on a press release statement from Pangaea Logistics Solutions Ltd. The company has cautioned that the forward-looking statements are subject to various risk factors, including market conditions, operating expenses, and regulatory changes, which could cause actual results to differ from those anticipated.
Investors and interested parties are advised to follow the company's filings with the SEC for further details on the shelf registration and potential future securities offerings.
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