Item 8.01 Other Events

Eagle Bulk Shipping Inc. (the "Company") has completed its offering under the Equity Distribution Agreement (the "Agreement"), which was originally reported in a Prospectus filed on March 2, 2009. Since commencing the offer and issuance of shares under the Agreement, the Company raised gross proceeds of $100 million.

Following the completion of the Agreement, the Company has approximately 61.9 million shares outstanding.

UBS Securities LLC acted as sales agent in the offering.

The Company's cash position for the quarter ended June 30, 2009 was $142 million, and the weighted average number of shares outstanding for the same period was 52.3 million.

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