Star Bulk Carriers (SBLK) Prices 11.98M Common Stock Offering at $4.30/Share
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
- WestRock (WRK) to Acquire Multi Packaging Solutions (MPSX) for $18 per share
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Star Bulk Carriers Corp. (Nasdaq: SBLK) announced that it has priced its underwritten public offering of 11,976,745 of its common shares at a price of $4.30 per share. The offering is expected to close on September 20, 2016, subject to customary conditions. The Company intends to use the net proceeds from the offering for general corporate purposes.
Oaktree Capital Management, L.P. and its affiliates ("Oaktree"), Caspian Capital LP and its affiliates ("Caspian") and family members or entities owned and controlled by affiliates of the family of Mr. Pappas (the "Pappas Affiliates"), which are three of the Company's significant shareholders, are expected to purchase approximately 7,744,480 of the common shares offered in this offering. On an as-adjusted basis, giving effect to this offering, Oaktree, Caspian and the Pappas Affiliates, will beneficially own approximately 51.8%, 6.6% and 5.8%, respectively, of our outstanding common shares.
Citigroup, Clarksons Platou Securities, Deutsche Bank Securities and DNB Markets are acting as book-running managers for the offering. ABN AMRO, AXIA, Credit Agricole CIB, DVB Capital Markets and SEB are acting as co-managers.
Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free 1-800-831-9146; Clarksons Platou Securities, Inc., 280 Park Avenue, 21st floor, New York, NY 10017, or firstname.lastname@example.org, or by calling toll-free 1-855 864 2265; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, telephone: 800-503-4611, or email: email@example.com; or DNB Markets, 200 Park Ave, Floor 31, New York, NY 10166, or by calling 212 681 3800.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Star Bulk Carriers (SBLK) Enters $51.5M Private Placement of Common Shares
- Summit Partners Announces Four Promotions
- AerCap Holdings N.V. Announces Pricing of $600 Million Aggregate Principal Amount of Senior Notes
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesDeutsche Bank, Citi, Credit Agricole
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!