Paragon Shipping Sets IPO Terms

Paragon Shipping Inc., an Athens, Greece-based dry-bulk shipping company, has set its IPO terms to 10.3 million common shares being offered at between $16 and $18 per share. Paragon plans to trade on the Nasdaq under ticker symbol PRGN, with UBS and Morgan Stanley serving as co-lead underwriters. Shareholders include Citigroup and Silver Point Capital.