Globus Maritime's Stock Plunges After Private Placement Deal Falls Through

By Tomi Kilgore Markets MarketWatch Pulse

Globus Maritime Ltd.'s stock plunged 24% in premarket trade Tuesday, after the dry bulk shipper said its previously-announced private placement will not occur as planned. The company said late Friday that deal had required multiple parties to close transactions simultaneously, but one party had not agreed to complete the transaction. The company first announced the private placement and the conversion of certain outstanding loans on Nov. 28, then said on Dec. 20 that the closing of the private placement would be delayed until Jan. 13. The stock has more than tripled over the past three months, while the S&P 500 has gained 7%.

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