Star Bulk Carriers Prices Public Offering Of 7.00 Mln Shares At $8.80/shr

(RTTNews) - Star Bulk Carriers Corp. (SBLK) announced that it priced its underwritten public offering of 7.00 million common shares at a public offering price of $8.80 per share.

The company also granted the underwriters a 30-day option to purchase 1.05 million additional common shares. The common shares are being offered pursuant to the Company's effective shelf registration statement.

The company intends to use the net proceeds of this offering to partially fund the acquisition of nine identified new building vessels, future vessel acquisitions and general corporate purposes, including working capital.

The company expects to close the sale of the common shares on October 7, 2013, subject to customary closing conditions.