Star Bulk announced the commencement of a secondary public offering of 5,000,000 of the Company’s common shares by a fund affiliated with Oaktree Capital Management, L.P..
Following the offering, the funds affiliated with Oaktree Capital Management, L.P. are expected to beneficially own approximately 43% of the Company’s common shares. The Company is not selling any common shares and will not receive any proceeds from the offering.
The underwriter for the offering may offer the shares for sale from time to time in one or more transactions on NASDAQ, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
Morgan Stanley is acting as book-running manager for the offering. The offering will be made only by means of a prospectus supplement and accompanying base prospectus related to the offering, copies of which may be obtained from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.