Star Bulk Carriers (SBLK) Posts Mixed Q2 Results; Enters Debt Repayment Deferral
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Star Bulk Carriers Corp. Reports Financial Results for the Second Quarter and First Half of 2016, and Announces Agreement With Its Lenders to Defer 100% of Its Debt Repayment for 25 Months to June 30,
September 14, 2016 4:06 PM EDTATHENS, GREECE -- (Marketwired) -- 09/14/16 -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the second quarter and the first half of 2016.
Financial Highlights
Six Six months months (Expressed in thousands of U.S. Second Second ended ended dollars, except for daily rates and quarter quarter June 30, June 30, per share data) 2016 2015 2016 2015 ---------------------------------------------------------------------------- Total Revenues 52,649 55,817 98,953 101,318 ---------------------------------------------------------------------------- Net income/(loss) (2) (32,908) (65,021) (81,696) (105,197) ---------------------------------------------------------------------------- EBITDA (1) (521) (33,338) (14,610) (44,902) ---------------------------------------------------------------------------- Adjusted EBITDA (1) 1,630 6,262 (5,679) 624 ---------------------------------------------------------------------------- Adjusted Net income / (loss) (2) (30,196) (22,319) (68,491) (52,135) ---------------------------------------------------------------------------- Earnings / (loss) per... More
Star Bulk Carriers Corp. Announces $51.5 Million Public Offering of Common Stock
September 14, 2016 4:01 PM EDTATHENS, GREECE -- (Marketwired) -- 09/14/16 -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock. The Company intends to use the net proceeds from the offering for general corporate purposes. Oaktree Capital Management, L.P., Caspian Capital LP and family members or entities owned and controlled by affiliates of the family of our Chief Executive Officer and founder, Mr. Pappas, have indicated that they will purchase common shares with gross proceeds representing... More
