| Item 1.01. |
Entry into a Material Definitive Agreement. |
On January 8, 2014, Baltic Trading Limited (the “Company”) exercised its option to purchase two 64,000 dwt Ultramax newbuilding drybulk carriers from Yangfan Group Co., Ltd. for an aggregate purchase price of $28 million per vessel under agreements it had entered into on November 13, 2013 (the “Acquisition Agreements”). The Company had previously disclosed the Acquisition Agreements in Item 1.01 to its Current Report on Form 8-K filed on November 13, 2013, which is incorporated herein by reference. The purchases are subject to completion of customary additional documentation and closing conditions. Such vessels are expected to be delivered to the Company during the second and third quarters of 2015.
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995
This Current Report on Form 8-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations. Such statements are subject to various risks, uncertainties and assumptions, including market conditions. Included among the factors that, in the Company's view, could cause actual results to differ materially from the forward looking statements contained in this Current Report on Form 8-K are the following: the fulfillment of the closing conditions under, or the execution of additional documentation for, the Company's agreements to acquire vessels; completion and funding of financing on acceptable terms; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2012 and its subsequent reports on Form 10-Q and Form 8-K. There can be no assurance that the Company will be able to obtain complete financing for the vessels required under the Acquisition Agreements. The Company may be liable for damages if the vessel acquisitions fail to close as a result of the Company’s unwillingness, inability or other failure to pay the purchase price under the Acquisition Agreements.