Golden Ocean Group is looking to grease the wheels for future share offerings.
The Birgitte Vartdal-led company has registered $400m-worth of shares for possible future sale.
The documents have been submitted to the US Securities and Exchange Commission as part of a shelf registration that allows future sale of common shares, preferred shares, debt securities or warrants.
It also gives Oslo-headquartered Golden Ocean the ability to sell purchase contracts, rights and units as specified, according to the documents.
The New York-listed bulker owner currently has 144.2 million units outstanding, reflecting a $969m market cap as of today. Its shares had gained 1.7% to $6.74 by late morning.
The prospectus lists a number of share-related transactions since February 2016, the latest being a share buyback programme to buy up to six million shares.
The company has repurchased 795,000 shares so far through the initiative, which ends 20 December.
Golden Ocean's fleet consists of 46 capesizes, 28 panamaxes and three ultramaxes, according to the prospectus.
