Star Bulk raises €107.8M in Greece public offering, oversubscribed 6x

Star Bulk Carriers Corp. completed a public offering in Greece on Sept. 11, 2026, issuing 4,400,000 new common shares at €24.50 ($28.27) per share, raising €107.8 million ($124.42 million) in gross proceeds before expenses, according to a company statement.

Of the total shares issued, 4,300,000 were allocated through the public offering in Greece, raising €105.4 million ($121.62 million), while the remaining 100,000 shares were sold through a parallel offering to a limited group of persons, raising €2.5 million ($2.82 million).

The offering was oversubscribed by more than six times, with total valid demand reaching 26,788,512 shares, representing approximately €656.3 million ($757.32 million) at the offering price. Of the 4,300,000 shares offered through the public offering, 41% were allocated to retail investors and 59% to qualifying investors.

Two legal entities controlled by members of the family of CEO Petros Pappas expressed demand for 248,000 shares and were allocated 148,800 shares, or 60% of their requested amount, due to the level of oversubscription.

Optima Bank S.A., one of the underwriters, submitted a subscription application for 400,000 shares on its own account and was allocated 52,000 shares. Other joint coordinators and bookrunners, including Axia Ventures Group Ltd and National Bank of Greece S.A., did not subscribe for shares on their own account.

The shares are admitted to parallel listing on the Main Market of the Regulated Securities Market of Euronext Athens. The shares have not been registered under U.S. securities laws and were not offered or sold to U.S. persons.

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