Star Bulk Carriers Corp. Rights Offering to Expire on July 19, 2013, as
ATHENS, GREECE -- (Marketwired) -- 07/11/13 -- Star Bulk Carriers
Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), issued a
reminder today that its rights offering will expire at 5:00 p.m., New
York City time, on July 19, 2013 (the "Expiration Date"), unless
As previously announced, the Company's shareholders of record (the
"Record Date Holders") as of May 15, 2013 (the "Record Date")
received one non-transferable subscription right for each common
share of the Company held by the shareholder as of the Record Date.
Each subscription right entitles its holder to purchase 2.5957 common
shares at a subscription price of $5.35. If the Record Date Holders
wish to participate in the rights offering, they are required to
submit payment in full for all of the common shares they wish to buy
pursuant to the exercise of the basic subscription right to the
subscription agent, American Stock Transfer & Trust Company, LLC, by
no later than 5:00 p.m., New York City time, on the Expiration Date.
A copy of the prospectus, the registration statement and additional
materials related to the rights offering have been mailed to holders
of the Company's common shares as of the Record Date. The rights
offering will be made only by means of a prospectus. Before you
invest, you should read the prospectus and the registration
statement, including all of the documents incorporated by reference
therein and other documents the Company has filed with the SEC for
more complete information about the Company and this offering. You
may obtain these documents for free by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, the Company will arrange to send
you the registration statement, including the prospectus if you
request it by calling the information agent for the offering,
Advantage Proxy Inc., toll-free at 877-870-8565 or if you are a bank
of broker, 206-870-8565.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the rights or the underlying common
shares nor shall there be any sale of these securities in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
About Star Bulk
Star Bulk is a global shipping company providing
worldwide seaborne transportation solutions in the dry bulk sector.
Star Bulk's vessels transport major bulks, which include iron ore,
coal and grain and minor bulks which include bauxite, fertilizers and
steel products. Star Bulk was incorporated in the Marshall Islands on
December 13, 2006 and maintains executive offices in Athens, Greece.
Its common stock trades on the Nasdaq Global Market under the symbol
"SBLK". Currently, Star Bulk has an operating fleet of thirteen dry
bulk carriers. The total fleet consists of five Capesize and eight
Supramax dry bulk vessels with a combined cargo carrying capacity of
1,290,602 deadweight tons. The average age of our current operating
fleet is approximately 10.5 years. Additionally, we have four
third-party dry bulk vessels under our management, consisting of one
Capesize vessel, two Supramax vessels and one Panamax vessel and we
have been sub-contracted for certain management services, including
crewing, purchasing and insurances, for six product tankers. The
total combined cargo carrying capacity of these vessels amounts to
634,729 deadweight tons.
Matters discussed in this press release
may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to provide
prospective information about their business. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions
and other statements, which are other than statements of historical
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, examination by the
Company's management of historical operating trends, data contained
in its records and other data available from third parties. Although
the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond the Company's control, the Company cannot
assure you that it will achieve or accomplish these expectations,
beliefs or projections.
In addition to these important factors, other important factors that,
in the Company's view, could cause actual results to differ
materially from those discussed in the forward-looking statements
include the strength of world economies and currencies, general
market conditions, including fluctuations in charter rates and vessel
values, changes in demand for dry bulk shipping capacity, changes in
the Company's operating expenses, including bunker prices, drydocking
and insurance costs, the market for the Company's vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption
of shipping routes due to accidents or political events, vessels
breakdowns and instances of off-hires and other factors. Please see
our filings with the Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The
information set forth herein speaks only as of the date hereof, and
the Company disclaims any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this communication.
Star Bulk Carriers Corp.
c/o Star Bulk Management Inc.
40 Ag. Konstantinou Av.
Investor Relations / Financial Media:
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
Press spacebar to pause and continue. Press esc to stop.