Safe Bulkers, which operates a fleet of 11 drybulk vessels, priced its 10 million share offering at $19 on Wednesday evening, 10% below the midpoint of the expected $20-$22 range. All the shares were sold by Vorini Holdings, a parent company controlled by the family of Safe Bulkers' CEO. The shares are expected to begin trading Thursday on the NYSE under the ticker SB. Merrill Lynch and Credit Suisse were the joint lead managers on the deal.
