Star Bulk Announces Pricing of 11,976,745 Common Shares

Star Bulk

Star Bulk announced that it has priced its underwritten public offering of 11,976,745 of its common shares at a price of $4.30 per share.

The offering is expected to close on September 20, 2016, subject to customary conditions. The Company intends to use the net proceeds from the offering for general corporate purposes.

Oaktree Capital Management, L.P. and its affiliates (“Oaktree”), Caspian Capital LP and its affiliates (“Caspian”) and family members or entities owned and controlled by affiliates of the family of Mr. Pappas (the “Pappas Affiliates”), which are three of the Company’s significant shareholders, are expected to purchase approximately 7,744,480 of the common shares offered in this offering. On an as-adjusted basis, giving effect to this offering, Oaktree, Caspian and the Pappas Affiliates, will beneficially own approximately 51.8%, 6.6% and 5.8%, respectively, of our outstanding common shares.

Citigroup, Clarksons Platou Securities, Deutsche Bank Securities and DNB Markets are acting as book-running managers for the offering. ABN AMRO, AXIA, Credit Agricole CIB, DVB Capital Markets and SEB are acting as co-managers.



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