Star Bulk Carriers plans to offer common stock via public offering

Funds to pay for two secondhand drybulk carriers, corporate purposes

By Devika Patel

Knoxville, Tenn., July 18 - Star Bulk Carriers Corp. will price a public offering of 16.5 million common shares, according to a prospectus supplement filed Monday with the Securities and Exchange Commission. The deal has a greenshoe of 2,475,000 shares.

Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are the joint bookrunning managers. ABN AMRO Bank NV, Cantor Fitzgerald & Co., Dahlman Rose & Co., LLC and FBR Capital Markets & Co. are the co-managers.

Proceeds will be used to pay for two secondhand drybulk carriers the company has contracted to acquire by Aug. 31 and for general corporate purposes.

Star is an Athens, Greece-based provider of transportation services for the dry bulk goods sector.

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