|
Atrhens, Greece - September 14, 2016
Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock.
The Company intends to use the net proceeds from the offering for general corporate purposes. Oaktree Capital Management, L.P., Caspian Capital LP and family members or entities owned and controlled by affiliates of the family of our Chief Executive Officer and founder, Mr. Pappas, have indicated that they will purchase common shares with gross proceeds representing their respective pro rata shares of the gross proceeds of the offering, based on their respective current percentage ownership in the Company.
Citigroup, Clarksons Platou Securities, Deutsche Bank Securities and DNB Markets are acting as book-running managers for the offering.
Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free 1-800-831-9146; Clarksons Platou Securities, Inc., 280 Park Avenue, 21st floor, New York, NY 10017, or prospectuses@clarksons.com, or by calling toll-free 1-8558642265; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005 - 2836, telephone: 800 - 503 - 4611, or email: prospectus.cpdg@db.com; DNB Markets, 200 Park Ave, Floor 31, New York, NY 10166, or by calling 212 681 3800.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein and there shall not be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the offering of the common stock was filed with the U.S. Securities and Exchange Commission and is effective.
About Star Bulk
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol "SBLK". On a fully delivered basis, Star Bulk will have a fleet of 73 vessels, with an aggregate capacity of 8.2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 52,055 dwt and 209,537 dwt. Our fleet currently includes 69 operating vessels and 5 newbuilding vessels under construction at shipyards in China. All of the newbuilding vessels are expected to be delivered during 2017 and 2018. Additionally, the Company has one chartered-in Supramax vessel, under a time charter expiring in September 2017.
Star Bulk Carriers Corp. press release