Diana Shipping lower after disclosing share offering

|About: Diana Shipping, Inc. (DSX)|By:, SA News Editor

Diana Shipping (DSX -9.6%) trades lower after announcing a $70M share offering.

As part of the offering, CEO Simeon Palios and other high-level execs have agreed to purchase approximately $20.0 M worth of shares at the public offering price.

The company expects most of the proceeds to go to acquisition costs for additional dry bulk vessels.

Source: Press Release