Business
Star Bulk Carriers Corp. Announces the Launch of Two Separate ATM Equity Offerings for Up to an Aggregate of $150.0 Million of Common Shares of the Company
ATHENS, Greece, July 01, 2021 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced the Company entered
About this update from Star Bulk Carriers Corp.
[{"type":"text","content":"ATHENS, Greece, July 01, 2021 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced the Company entered into (i) a Sales Agreement dated July 1, 2021, with Deutsche Bank Securities (“Deutsche Bank”) for the offer and sale of up to $75.0 million of common shares of the Company and (ii) a Sales Agreement dated July 1, 2021, with Jefferies LLC (“Jefferies” and together with Deutsche Bank, the “Sales Agents”) for the offer and sale of up to $75.0 million of common shares of the Company. In accordance with the terms of each of the sales agreements described above, the Company may offer and sell its common shares at any time and from time to time through the Sales Agents, as agent or principal. Sales of the Company’s common shares, if any, may be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Sales Agents are not required to sell any specific number or dollar amount of securities, but will act as the Company’s sales agents using commercially reasonable efforts consistent with their normal trading and sales practices, on mutually agreed terms between the Company and the Sales Agents. The Company will submit orders to not more than one of Deutsche Bank or Jefferies relating to the sale of its common shares on any given day. The Company intends to use the net proceeds from the sale of the securities in these offerings for capital expenditures, working capital, debt repayment, funding for vessel and other asset or share acquisitions or for other general corporate purposes, or a combination thereof. The Company has no intention to start sales under either of the two offerings immediately. 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 two at-the-market (ATM) equity offerings are being made by means of separate prospectus supplements and the accompanying prospectuses, in accordance with the terms of separate at-the-market sales agreements. Two separate prospectus supplements relating to each of the offerings have been filed with the Securities and Exchange Commission. Copies of the prospectu...