Star Bulk Carriers Corp. announced the renewal of its existing At-The-Market equity offering programs, originally established in July 2021 and previously amended and restated in April 2022. The renewal follows the expiration of the shelf registration statement under which the existing programs were established. The renewal is solely due to passage of time and does not constitute an expansion of the existing ATM programs.
In connection with the renewal, the Company has entered into (i) a Second Amended and Restated ATM Sales Agreement with Deutsche Bank Securities Inc. for the offer and sale of up to $41,371,110 of common shares of the Company (the “Deutsche Bank Sales Agreement”) and (ii) a Second Amended and Restated ATM Sales Agreement with Jefferies LLC for the offer and sale of up to $75,000,000 of common shares of the Company (the “Jefferies Sales Agreement” and, together with the Deutsche Bank Sales Agreement, the “Second Amended and Restated Sales Agreements”).
The amounts available for offer and sale under the Second Amended and Restated Sales Agreements, equal the unused capacity remaining under the existing programs at the time of termination. They do not increase the size of the programs. The renewal does not reflect any change in Star Bulk’s policy or strategy.