SAFE BULKERS, INC. Common Stock ($0.001 par value per share) AT-THE-MARKET EQUITY OFFERING SALES AGREEMENTTerms Agreement • August 10th, 2020 • Safe Bulkers, Inc. • Deep sea foreign transportation of freight • New York
Safe Bulkers, Inc., a Marshall Islands corporation (the “Company“), proposes, subject to the terms and conditions stated herein, to issue and sell from time to time to or through DNB Markets, Inc. (the “Agent“), the Company’s shares of common stock, $0.001 par value per share (the “Shares”), having an aggregate offering price of up to $23,500,000 (any such Shares, the “Placement Shares”) on the terms set forth in Section 2 of this Sales Agreement (the “Agreement”). The Company agrees that whenever it determines to sell Placement Shares directly to the Agent as principal, it will enter into a separate agreement (each, a “Terms Agreement”) in substantially the form of Annex I hereto, relating to such sale in accordance with Section 3 of this Agreement.
