Star bulk successfully completes the second repurchase of 10 million of its common shares from oaktree
Athens, greece, dec. 01, 2023 (globe newswire) -- star bulk carriers corp. (the “company” or “star bulk”) (nasdaq: sblk), a global shipping company focusing on the transportation of dry bulk cargoes, today announced that on december 1, 2023, they closed the previously announced repurchase of 10 million of its common shares from oaktree shareholders (as defined below and such transaction, the “december share repurchase”). as a result of the closing of the december share repurchase, (i) the aggregate ownership of oaktree dry bulk holding llc and its affiliated funds (collectively, the “oaktree shareholders”) in the company was reduced from approximately 17.1% of the company's outstanding common stock to approximately 7.2% and (ii) the number of directors that the oaktree shareholders are entitled to nominate pursuant to the shareholders agreement, dated as of july 11, 2014, among the company and the oaktree shareholders, was reduced from two directors to one director. in connection with the closing of the december share repurchase, katherine ralph, one of the oaktree shareholders' nominated directors, resigned from the company's board of directors (the “board”) on december 1, 2023. the vacancy on the board created by the resignation of katherine ralph will not be filled at this time.
SBLK Ratings Summary
SBLK Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission