Star Bulk completes €107.8 million share offering, secures Euronext Athens listing

  • Star Bulk Carriers completed its offering and secured Euronext Athens approval for all Common Shares.
  • €107.8 million gross proceeds and €100.4 million net proceeds were reported.
  • 26,788,512 shares were demanded, exceeding the Greek public offering by more than six times.

Star Bulk Carriers Corp. completed the allocation of 4,400,000 new common, registered, voting shares on Sept. 11, 2026, through a public offering in Greece and a parallel offering to a limited group of persons. The shares were priced at €24.50 ($28.27) each, generating total gross proceeds of €107.8 million ($124.41 million) before estimated expenses and €100.4 million ($115.91 million) after expenses of about €7.4 million ($8.5 million). Investor demand reached 26,788,512 shares, or €656.3 million ($757.32 million), exceeding the 4,300,000 shares offered publicly by more than six times. Euronext Athens approved the listing of all of the company's Common Shares on its Main Market on Sept. 15, and the shares were registered in beneficiaries' securities accounts the same day under the ticker SBLK. The net proceeds include €57.02 million for the remaining funding of a €94.92 million investment plan covering three vessels under construction, while up to €43.4 million will fund newbuild and second-hand vessel acquisitions by subsidiaries. The opening price on Euronext Athens will match the Sept. 15 closing price on Nasdaq Global Select Market, converted into euros using the European Central Bank's EUR/USD reference rate. Retail investors received 1,743,504 shares, while Qualifying Investors received 2,556,496 shares. Two legal entities controlled by members of CEO Mr. Pappas's family were allocated 148,800 of the 248,000 shares they requested. The offering was made outside the United States to non-U.S. persons under Regulation S, and the company warned that trading could be affected by market conditions, cross-border trading disruptions, Euronext Athens disruptions and other technical impediments.

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