Diana Containerships to raise 150 mill. $

Diana Containerships
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Diana Containerships Inc. has entered into a Securities Purchase Agreement with Kalani Investments Limited to raise up to 150 mill. $.

Kalani is an entity organized in the British Virgin Islands which has previously bought into DryShips and Top Ships. Diana will sell 3,000 Series[ds_preview] B-1 convertible preferred shares. Besides, Kalani is set to exercise warrants for 6,500 more B-1 shares and warrants to buy 140,500 new series B-2 convertible stock.This all could add up to 150 mill. $.

Diana Containerships intends to use the net proceeds from the sale »for general corporate purposes« and/or to repay indebtedness under one or more of the existing credit facilities, it said.

Diana Containerships Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies.

Kalani agreed a similar deal with George Economou‘s DryShips worth up to 200 mill. $ in January.