Grindrod Shipping Holdings Ltd. (GRIN) Prices 1.84M Share Secondary Offering at $13.50/sh

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) a global provider of maritime transportation services predominately in the drybulk sector, today announced the pricing of the previously announced underwritten public secondary offering of 1,841,962 ordinary shares by certain existing shareholders of the Company (the “Selling Shareholders”) at a public offering price of $13.50 per share, for an aggregate purchase price of $24,866,487. The Offering is expected to close on September 27, 2021, subject to customary closing conditions. The Selling Shareholders will receive all of the proceeds from the Offering. Grindrod Shipping is not selling any of its ordinary shares in the Offering and will not receive any proceeds from the Offering.

Jefferies is acting as sole book-running manager for the Offering. Noble Capital Markets, Inc. is acting as co-manager for the Offering.

The Offering was made pursuant to the Company’s existing effective shelf registration statement on Form F-3, including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 23, 2021 and a related prospectus supplement for the Offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the proposed offering. When available, copies of the prospectus relating to and describing the terms of the proposed Offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

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