News

2017 Jan 24

STAR BULK CARRIERS CORP. ANNOUNCES AGREEMENTS FOR A $51.5 MILLION PRIVATE PLACEMENT OF COMMON SHARES

Star Bulk Carriers Corp. (NASDAQ:SBLK) (“Star Bulk” or “Company”) announced this week the execution of agreements with affiliates of Oaktree Capital Management, L.P. (“Oaktree”) and Senator Investment Group LP (“Senator”) to sell Oaktree and Senator an aggregate of 6,310,272 of its common shares, at a purchase price of $8.154 per share. The private placement, which is scheduled to close by early February 2017, is expected to result in aggregate gross proceeds to Star Bulk of approximately $51.5 million. The Company has agreed to grant shelf registration rights to the investors for the resale of their common shares. Star Bulk intends to use the net proceeds of the offering for general corporate purposes. Giving effect to this offering, Oaktree and Senator are expected to beneficially own approximately 51.4% and 6.5%, respectively, of the Company’s outstanding common shares.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein.  The securities described herein have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under such Act.

Do you like this article? Yes No

Ratings: 0 Yes 0 No

Other News by Category