Paragon Shipping (PRGN) Chairman and CEO Michael Bodouroglou injects $10M of his own cash into...

|About: Paragon Shipping Inc. (PRGNF)|By:, SA News Editor

Paragon Shipping (PRGN) Chairman and CEO Michael Bodouroglou injects $10M of his own cash into the company, purchasing 4.9M shares in a private placement. He paid $2.04/share vs. a $2.30 close on Monday. The company has the right (but likely not the means) to buy back those shares at the same price by March 29, 2013. (PR)