Rand Logistics, Inc. (Nasdaq:RLOG) announced that it successfully closed its public underwritten offering of 2,800,000 shares of common stock at $6.00 per share. The Company's proceeds from the offering, net of underwriter's commissions, were $16.1 million. Rand expects to use the net proceeds of the offering to partially fund the anticipated acquisition of two dry bulk carriers, one of which is a self-unloader, and for general corporate purposes. With respect to the anticipated acquisitions, Rand also announced that it has entered into agreements to purchase the two bulk carriers for a total purchase price of $25 million.

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