Keeping It Simple

[eastunder]

The volume on EXM is kinda interesting isn't it.

Seemed they had an ATM. I'll have to find the filing

Okay - Here:

http://www.sec.gov/Archives/edgar/data/842294/000091957412005355/d1317386_6-k.htm


In March 2012, we reached an agreement with all the lenders under the Nordea credit facility on the amendment, for a period from March 30, 2012 through December 31, 2013, of the amortization schedule, the collateral value clause and certain of the financial covenants (effective as of January 1, 2012) of the facility in order to improve our debt maturity profile and respond to the weak charter conditions prevailing in the market and the associated volatility in the vessels' market values. In accordance with such amendment, the loan repayment schedule was modified to al­low for, at our option, the defer­ral of the repayment of principal amount of up to $100.0 million, originally scheduled for 2012 and 2013, to the balloon payment at the end of the facility's term in 2016. Under the amendment, we are required to raise at least $30.0 million in new equity by December 31, 2012. Following the amendment to the Nordea fa­cility, we reached agreements with each of Credit Suisse, DVB and ABN to simi­larly amend a number of financial covenants
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That 30m will be the ATM

I'm pretty sure I read a number of where they were at on that - but now I can't find it? I will though. I do know at the time I read it - The ATM was not completed...

there is also this
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In connection with the loan amendment and the equity offering we undertook thereunder, on March 29, 2012, we entered into an agreement (the "Back Stop Agreement") with certain entities affiliated with the family of the Chairman of our Board of Directors, under which such entities deposited $20.0 million as required under the loan amendment into an escrow account set up for that purpose and have committed to purchase capital stock of the Company up to the total amount deposited in the escrow account in the event that we do not raise the amount required through equity offerings.

Same filing
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Now with that said - if the ATM has actually been completed since they filed this, then they have met their requirements.... which would be good. Which could already be out there in cyberland and could be why the volume?

Turn the BDI around, get those ships a moving and
EXM could very well pull itself out of a hole?