Star Bulk Carriers Corp. announces the price of the secondary public offering of 2,382,775 ordinary shares
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ATHENS, Greece, June 22, 2021 (GLOBE NEWSWIRE) – Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced the price of a secondary public offering of 2,382,775 common shares of the Company shares by OCM XL Holdings, LP, which is a vehicle special purpose holding held indirectly by certain funds and accounts managed by Oaktree Capital Management, LP (the “Selling Shareholder”) at a public price of $ 22.00 per share. The offer is scheduled to close on June 24, 2021, subject to customary conditions. Unless stated otherwise or unless the context requires, all references in this press release to “we”, “our”, “our”, or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries.
As a result of the Offer, funds affiliated with Oaktree Capital Management, LP are expected to beneficially own approximately 25.42% of the common shares of the Company. The Company does not sell any common shares and will not receive any proceeds from the sale of the Company’s common shares by the selling shareholder.
Morgan Stanley is acting as book manager for the offer. The Offer will be made only by way of a Prospectus Supplement and a Base Prospectus associated with the Offer, copies of which may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this document and there will be no sale of such securities in any state or other jurisdiction in which such an offer. , solicitation or sale would be illegal. prior to registration or qualification under the securities laws of such jurisdiction. A registration statement relating to the offering of Common Shares has been filed with the United States Securities and Exchange Commission and is in effect.
About Star Bulk
Star Bulk is a global shipping company providing worldwide shipping solutions for the dry bulk industry. Star Bulk’s ships carry major bulk, which includes iron ore, minerals, and grains, and minor bulk, which includes bauxite, fertilizers, and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and has executive offices in Athens, Oslo, New York, Limassol and Singapore. Its common stock trades on the Nasdaq Global Select Market under the symbol “SBLK”. Star Bulk operates a fleet of 128 ships, with a total capacity of 14.1 million dwt, consisting of 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax and 17 ships Supramax with transport capacities between 52,425 dwt and 209,537 dwt.
The matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe havens for forward-looking statements to encourage companies to provide forward-looking information about their activities. Forward-looking statements include statements about future plans, objectives, goals, strategies, events or performance, and underlying assumptions and other statements, which are other than statements of historical fact.
We wish to take advantage of the safe harbor provisions of the Private Titles Litigation Reform Act 1995 and include this caveat in connection with this Safe Harbor legislation. Words such as, but not limited to, “believe”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “targets”, “projects” , “Likely”, “would”, “” could “,” should “,” could “,” forecast “,” potential “,” continue “,” possible “and similar expressions or phrases may identify forward-looking statements.
The forward-looking statements contained in this press release are based on various assumptions, many of which, in turn, are based on other assumptions, including, without limitation, our management’s review of operating trends. historical data, data in our records and other data available from third parties. Although we believed these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you. that we will achieve or achieve those expectations, beliefs or projections.
In addition to these important factors, other important factors which, in our opinion, could cause actual results to differ materially from those discussed in the forward-looking statements include general conditions of the dry bulk transportation market, including fluctuations in charter rates and vessel values; the strength of global economies; the stability of Europe and the euro; fluctuations in interest rates and exchange rates; the impact of the expected discontinuation of the London Interbank Offered Rate, or LIBOR, after 2021 on our debt interest rates which refer to LIBOR; business disruptions due to natural disasters or other disasters beyond our control, such as the ongoing global outbreak of the novel coronavirus (“COVID-19”); the duration and severity of epidemics and pandemics, including COVID-19 and its impact on the demand for maritime transport in the dry bulk sector; changes in supply and demand in the dry bulk transport industry, including the market for our vessels and the number of new vessels under construction; the potential for technological innovation in the sector in which we operate and any corresponding reduction in the value of our vessels or the charter income derived therefrom; changes in our operating expenses, including bunker prices, dry docking, crew and insurance costs; changes in government rules and regulations or actions taken by regulatory authorities; the potential liability for ongoing or future litigation and the potential costs due to environmental damage and collisions with ships; the impact of increased surveillance and changing expectations of investors, lenders, charterers and other market players with respect to our environmental, social and governance (“ESG”) policies; general national and international political conditions or events, including “trade wars”; the impact on our common stocks and reputation if our ships were to call at ports in countries subject to restrictions imposed by the United States or other governments; potential disruption of shipping routes due to accidents or political events; the availability of financing and refinancing; the failure of our contractual counterparties to meet their obligations; our ability to meet additional capital and financing needs to grow our business; the impact of our indebtedness and compliance with the covenants included in our debt agreements; vessel breakdowns and non-rental cases; the exposure or potential loss of an investment in derivative instruments; potential conflicts of interest involving our CEO, his family and other members of our senior management and our ability to complete acquisition transactions as and when scheduled. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information contained herein is valid only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.
Company: Simos Spyrou, Christos Begleris Co – CFOs Star Bulk Carriers Corp. c / o Star Bulk Management Inc. 40 Ag. Av. Constantinou Maroussi 15124 Athens, Greece Email: email@example.com www.starbulk.com
Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 Email: firstname.lastname@example.org www.capitallink.com
Source: Star Bulk Carriers Corp.