Star Bulk Carriers announces acquisition of 16 dry bulk vessels

August 10, 2018 – Star Bulk Carriers Corp. announced that it has consummated the previously announced acquisition of sixteen dry bulk vessels in an all‐share transaction (“Augustea Vessel Purchase”), from entities affiliated with Augustea Atlantica SpA and York Capital Management. The final consideration for the Augustea Vessel Purchase is 10.3 million common shares of the Company, equal to approximately 11.3% of Star Bulk’s common shares after the closing of the Augustea Vessel Purchase.

As part of the transaction, the Company will assume debt of approximately $309 million. Following the closing of the Augustea Vessel Purchase, Mr. Raffaele Zagari will be appointed to the Board of Directors of Star Bulk as a Class C Director. The Company will have approximately 91.7 million common shares issued and outstanding.

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece.