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HomeMaritime NewsRegionsAmericasStar Bulk raises $70.8m from share issue

Star Bulk raises $70.8m from share issue

Star Bulk raises $70.8m from share issue
Nasdaq-listed Star Bulk Carriers has raised $70.8m from a share issue to be used in part to fund recent newbuilding orders.

The gross proceeds of $70.8m from the share issue included $9.2m from an underwriters option to purchase additional shares.

“Star Bulk intends to use the net proceeds from the offering to partially fund the

acquisition of nine identified newbuilding drybulk vessels, future vessel acquisitions and general corporate purposes, including working capital,” the company said.

Last week Star Bulk ordered five bulkers for a total of $214.9m from Shanghai Waigaoqiao Shipbuilding (SWS) and Nantong Cosco KHI Ship Engineering (Nacks).

 

TAGS: Dry Bulk Finance & Insurance Shipyards Star Bulk

 

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