Star Bulk Announced Repurchase Of Additional 10M Of Its Common Shares From Oaktree

Star Bulk Carriers Corp. +2.08%

Star Bulk Carriers Corp.

SBLK

23.12

+2.08%

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (NASDAQ:SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced today that it entered into a Repurchase Agreement (the “Repurchase Agreement”) with OCM XL Holdings, L.P., a limited partnership incorporated in the Cayman Islands, Oaktree OBC Container Holdings, LLC, a limited liability company organized in the Marshall Islands, and OCM FIE, LLC, a limited liability company organized in Delaware (collectively the “Sellers”), pursuant to which the Company agreed to purchase of an additional 10 million of its common shares (“Purchased Shares”) from the Sellers at a price per common share of $19.50 (such price, the “Purchase Price” and, such transaction, the “Share Repurchase”). The Share Repurchase was approved unanimously by all the disinterested members of the Company’s Board of Directors.

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