Star Bulk Carriers Corp. announces pricing of public offering
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Star Bulk Carriers Corp. today announced the pricing of its previously announced underwritten public offering of 7, 0 00,000 common shares, the Company said in a press release. The Company agreed to sell the 7,000,000 common shares at a public offering price of $ 8.80 per share. The Company also granted the underwriters a 30 - day option to purchase 1,050,000 additional common shares. The common shares are being offered pursuant to the Company’s effective shelf registration statement. The Company intends to use the net proceeds of this offering to partially fund the acquisition of nine identified newbuilding vessels, future vessel acquisitions and gene ral corporate purposes, including working capital. Morgan Stanley & Co. LLC is acting as the sole book - running manager for the offering. Evercore Group L.L.C., Global Hunter Securities, LLC , Stifel, Nicolaus & Company and Pareto Securities, are acting as co - managers for the offering.
The Company expects to close the sale of the common shares on October 7, 2013, subject to customary closing conditions. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement relate d to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014,
About Star Bulk: Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bul k’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.