M.M. Dillon served as placement agent to Paragon Shipping for their Initial Public Offering worth $102mm. 17,000,000 units were issued at $6.00 per unit, and 1 common share and 2 warrants at $5.00. Sponsor investment was $1,680,000, and the minimum deal size specified as Aggregate transaction value of at least 50% of the company’s net assets after the offering (an “Acquisition”)
About Paragon Shipping
Paragon Shipping Limited is a blank check company formed for the purpose of acquiring shipping vessels.Paragon is initially targeting vessels employed in the dry bulk trade, though it retains the flexibility to acquire tankers or shipping companies should market conditions warrant.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.