Paragon Shelf Offering

Last week, Paragon Shipping Inc. filed a shelf offering to issue various securities of up to $250 million to position themselves with the proverbial “dry powder.” In addition, the company, through this registration statement, provided for a secondary offering of up to 5,283,288 shares, acquired in a private placement prior to the initial public offering, by a company beneficially owned by its Chairman and CEO, Mr. Michael Bodouroglou, and Loeb Partners.

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