UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2010
BALTIC TRADING LIMITED
(Exact Name of Registrant as Specified in Charter)
| Republic of the Marshall Islands | 001-34648 | 98-0637837 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
299 Park Avenue 20th Floor (Address of Principal Executive Offices) | 10171 (Zip Code) |
Registrant’s telephone number, including area code: (646) 443-8550
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| r | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| r | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| r | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| r | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On June 3, 2010, Baltic Trading Limited (the “Company”) executed agreements with affiliates of Metrostar Management Corporation under which the Company is to purchase three drybulk vessels for an aggregate price of approximately $99.8 million. The purchases are subject to the completion of customary additional documentation and closing conditions, as well as approval from the vessels’ current charterers, and the vessels are expected to be delivered between July 2010 and October 2010. The Company intends to finance the acquisition of the vessels through borrowings under its $100 million credit facility.
Item 7.01. Regulation FD Disclosure.
Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of the Company reporting entry into the agreements to acquire the three drybulk vessels as described above.
The information set forth under this Item 7.01, including Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description |
99.1 | Press Release dated June 9, 2010. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Baltic Trading Limited has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BALTIC TRADING LIMITED
DATE: June 9, 2010
/s/ John C. Wobensmith
John C. Wobensmith
President and Chief Financial Officer
EXHIBIT INDEX
Exhibit No. | Description |
99.1 | Press Release dated June 9, 2010. |