Scorpio Bulkers Inc. Announces Private Placement

Scorpio Bulkers Inc. Announces Private Placement 
MONACO -- (Marketwired) -- 11/04/13 --  On October 31, 2013, Scorpio
Bulkers Inc. ("Scorpio Bulkers") (OSLO-OTC: SALT) (the "Company")
completed a private placement of 32,590,411 new ordinary shares of
$0.01 par value at a subscription price of NOK 54.75, raising
approximately $300 million in gross proceeds (the "Private
Placement"). The Shares to be issued in the Private Placement will be
registered on the Norwegian Over The Counter list in Oslo on November
5, 2013 under the ticker "SALT."  
The proceeds from the Private Placement will be used to part finance
construction of a series of fuel efficient dry bulk vessels and for
general corporate purposes.  
RS Platou Markets AS acted as Sole Manager and Bookrunner in the
Private Placement. ABN AMRO Bank N.V., Evercore Group L.L.C., Global
Hunter Securities LLC and Skandinaviska Enskilda Banken AB (publ)
acted as Co-Managers.  
Forward-Looking Statements 
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts. The
Company desires to take advantage of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and is including
this cautionary statement in connection with this safe harbor
legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
forward-looking statements.  
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptio
ns are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.  
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the failure
of counterparties to fully perform their contracts with us, the
strength of world economies and currencies, general market
conditions, including fluctuations in charter rates and vessel
values, changes in demand for tanker vessel capacity, changes in our
operating expenses, including bunker prices, drydocking 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. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties.  
Scorpio Bulkers Inc. 
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