Benzinga | Jun 22, 2021 09:24AM EDT

Star Bulk Carriers Announces Pricing Of Secondary Public Offering Of ~2.382M Shares At $22/Share

Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ:SBLK) today announced the pricing of a secondary public offering of 2,382,775 of the Company's common shares by OCM XL Holdings, L.P., which is a special purpose holding vehicle owned indirectly by certain funds and accounts managed by Oaktree Capital Management, L.P. (the "Selling Shareholder") at a price to the public of $22.00 per share. The offering is expected to close on June 24, 2021, subject to customary conditions. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to "we," "us," "our," or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries.



Following the offering, funds affiliated with Oaktree Capital Management, L.P. are expected to beneficially own approximately 25.42% of the Company's common shares. The Company is not selling any common shares and will not receive any proceeds from the sale of the Company's common shares by the Selling Shareholder.

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 & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein and there shall not be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the offering of the common stock was filed with the U.S. Securities and Exchange Commission and is effective.