Tomahawk, WI 06/09/2014 (Basicsmedia) – NewLead Holdings Ltd (NASDAQ:NEWL)‘s shares rose 18.55% during the day’s trade on June 3, 2014, soon after the company released an announcement that it was granted a Temporary Restraining Order or TRO against Ironridge Global IV, Ltd.

TRO Boosts Trading

The TRO is deemed to ensure the prohibition of further issuance of myriad common shares, paying them as dividends on NEWL’s Series-A Preference Shares. However, this TRO petition hasn’t yet been heard or decided upon by the Preliminary Injunctive Relief Pending Arbitration.

NEWL had filed a petition in the US District Court in New York’s Southern District. Though the share price plummeted up to $0.735 in the regular trading on June 3, it tumbled deplorably soon after, currently staggering at $0.664, down by 9.66%!

Irregular Trading – Periodical Outbursts

NewLead Holdings Ltd (NASDAQ:NEWL) has a sumptuous market capitalization of 104.89 million; daily trading is carried out on the floating 35.06 million shares in the NASDAQ stock market. Over the last few months, there has been periodical outbursts, marked by the exquisite rise in stocks after the company takes a positive approach on some premise. However, on the outset, the stock is on a losing streak!

Newlead Buys 2 Eco-Type Vessels At $37 M

A similar situation took place in May 2014, when NewLead Holdings Ltd (NASDAQ:NEWL) announced the Newlead Albion, the 2012-built eco-type, dry-bulk Handsize vessel with a gross capacity of 32,318 dwt, was duly delivered to NEWL’s fleet. On March 2014, NEWL had agreed upon making an acquisition of two eco-type vessels, at an estimated worth of $37.0 million – each eco-type vessel priced at $18.5 million! This new addition is one of those vessels; NEWL expects to acquire the second one in July 2014. The vessels currently possess market values of $20.25 million each.

Financing Of Eco-Type Vessels

NewLead Holdings Ltd (NASDAQ:NEWL) has taken recourse to certain external finances, in combination with its own cash reserves, in order to solicit the righteous purchase of the eco-type vessels. NEWL paid $1.85 million holistically in cash. The remaining amount has been financed both in cash and 75% financing. This has been managed by transactions arranged by Pareto Project Finance AS.

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