Pangaea Logistics Solutions Ltd. Announces Renewal of Shelf Registration Statement

Rhea-AI Summary

Pangaea Logistics Solutions renews its shelf registration statement on Form S-3 with the SEC, maintaining the same aggregate amount. The new statement replaces the expired one from January 28, 2024, but is not yet effective. This press release clarifies that it is not an offer to sell or buy securities, and any future offering will follow SEC regulations.

NEWPORT, R.I., March 15, 2024 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, today announced the renewal, in the same aggregate amount, of its shelf registration statement on Form S-3, as filed with the Securities and Exchange Commission ("SEC"), replacing its recently expired shelf registration statement which expired on January 28, 2024.   

The shelf registration statement has been filed with the SEC but has not yet been declared effective by the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offering of the securities covered under the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering.

About Pangaea Logistics Solutions Ltd.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com.

Investor Relations Contacts

Gianni Del Signore	Stefan Neely or Noel Ryan
Chief Financial Officer	Vallum Advisors
401-846-7790	PANL@val-adv.com
nvestors@pangaeals.com

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company disclaims any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise, except as required by law. Such risks and uncertainties include, without limitation, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors, as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov.

 

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SOURCE Pangaea Logistics Solutions LTD

FAQ

What did Pangaea Logistics Solutions announce regarding its shelf registration statement?

Pangaea Logistics Solutions announced the renewal of its shelf registration statement on Form S-3 with the SEC, maintaining the same aggregate amount.

When did the previous shelf registration statement expire?

The previous shelf registration statement expired on January 28, 2024.

Is the new shelf registration statement effective yet?

The new shelf registration statement filed by Pangaea Logistics Solutions has not yet been declared effective by the SEC.

What does the press release clarify regarding the offering of securities?

The press release clarifies that it is not an offer to sell or buy securities and any future offering will be made following SEC regulations.