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Star Bulk Carriers Corp Announces Completion Of Follow - On Offering Including Exercise Of Underwriters' Option To Purchase Additional Common Shares

Monday, 7 Oct 2013 04:48pm EDT 

Star Bulk Carriers Corp announced that it has closed its previously announced public offering, issuing 8,050,000 new common shares, including 1,050,000 common shares sold pursuant to the exercise in full of the underwriters' option to purchase additional common shares. Gross proceeds of the offering were approximately $70.8 million, inclusive of $9.2 million gross proceeds from the exercise of the underwriters' option to purchase additional common shares. Star Bulk intends to use the net proceeds from the offering to partially fund the acquisition of nine identified newbuilding drybulk vessels, future vessel acquisitions and general corporate purposes, including working capital. Morgan Stanley & Co. LLC acted as the sole book-running manager for the offering. Evercore Group L.L.C., Global Hunter Securities, LLC, Pareto Securities and Stifel, Nicolaus & Company acted as co-managers for the offering. 

Company Quote

-0.14 -1.36%
4:00pm EDT