Announcement Regarding the Results of the Public Offering in Greece of the New Common Shares of the Company «Star Bulk Carriers Corp.»
The offering drew over six times subscribed demand, with allocations split between retail and qualifying investors at a single €24.50 price.
Rhea-AI Summary
Star Bulk Carriers Corp (SBLK) has completed a €107.8 million Greek public offering of 4,400,000 new common shares at €24.50 each.
Of these, 4,300,000 shares were placed via the Public Offering in Greece and 100,000 shares via a Parallel Offering to a limited group of persons, in connection with the company’s admission to a parallel listing on the Main Market of the Regulated Securities Market of Euronext Athens. The total valid demand at the offering price reached 26,788,512 shares, or about €656.3 million, oversubscribing the Public Offering (4,300,000 shares) by over six times. Retail Investors were allocated 1,743,504 shares (41% of the Public Offering), while Qualifying Investors received 2,556,496 shares (59%). Two entities controlled by the CEO’s family received 148,800 shares, and Optima bank S.A. was allocated 52,000 shares on its own account.
Positive
- Gross proceeds €107.8 million from 4,400,000 new shares at €24.50
- Public Offering demand 26,788,512 shares vs. 4,300,000 offered (>6x oversubscribed)
- Retail allocation 1,743,504 shares (41% of Public Offering) at same price as institutions
- Qualifying Investors allocation 2,556,496 shares (59% of Public Offering)
- Parallel Offering 100,000 shares raising €2.5 million alongside Greek Public Offering
Negative
- Joint coordinators, lead underwriters and underwriters had no obligation to subscribe for any shares
News Explained
The completed issuance expands the share base, reducing existing holders’ percentage ownership absent offsets; underwriters had no subscription obligation.
The allocation of
The release states that the Joint Coordinators, Lead Underwriters, and Underwriters had no obligation to subscribe for the shares.
Details
Market Reaction – SBLK
Following this news, SBLK has gained 1.62%, reflecting a mild positive market reaction. The stock is currently trading at $31.33.
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Key Figures
- New shares issued
- 4,400,000 shares
- Greek public offering and parallel offering
- Offering price
- €24.50 per share
- Same price for Qualified and Retail investors
- Total issuance proceeds
- €107.8 million
- Before estimated offering and admission expenses
- Public offering proceeds
- €105.4 million
- Raised through the Greek Public Offering
- Valid investor demand
- 26,788,512 shares
- Demand at the €24.50 offering price
- Public offering oversubscription
- Over 6 times
- Based on demand for 4,300,000 offered shares
- Retail allocation
- 1,743,504 shares
- 41% of the Greek Public Offering
- Qualifying investor allocation
- 2,556,496 shares
- 59% of the Greek Public Offering
Previous Offering Reports
-
Company announced the Greek equity offering price range and Regulation S offshore distribution.
-
Company announced the Greek equity offering and planned parallel Euronext Athens listing.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
securities act regulatory
parallel listing financial
regulation s regulatory
qualified investors financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
IMPORTANT NOTICE – DISCLAIMER
Not for release or distribution or publication in whole or in part, directly or indirectly, in or into Australia, Canada, Japan or the Republic of South Africa. These materials do not contain or constitute an offer for sale or the solicitation of an offer to purchase securities in the United States, Australia, Canada, Japan or the Republic of South Africa.
The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons absent such registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No offering of securities was made in the United States or to U.S. persons.
ATHENS, Greece, Sept. 15, 2026 (GLOBE NEWSWIRE) -- “AXIA Ventures Group Ltd”, member of the Alpha Bank Group, acting as Lead Advisor and Joint Coordinator and Bookrunner and “National Bank of Greece S.A.”, acting as Co-Advisor and Joint Coordinator and Bookrunner, in connection with the Public Offering in Greece and the admission to parallel listing of all common, registered, voting shares of “Star Bulk Carriers Corp.” (the “Company”), for trading (the “Admission”) on the Main Market the Regulated Securities Market of Euronext Athens, announce the following:
On Friday, 11 September 2026, the Company completed the allocation of 4,400,000 new, common, registered, voting shares of the Company (the “New Shares”), of which 4,300,000 allocated through the Public Offering in Greece and 100,000 through the Parallel Offering to a limited group of persons, in accordance with decision no. 4/379/18.04.2006 of the Board of Directors of the Hellenic Capital Market Commission.
The final offering price of the Company’s New Shares (the “Offering Price”) was determined at
The total proceeds of the issuance of the New Shares, before the deduction of the estimated expenses of the Public Offering, the Parallel Offering and the Admission for the Company amounts to
The total valid demand expressed from investors, at the Offering Price, amounted to 26,788,512 New Shares (namely an amount of
The total 4,300,000 New Shares offered through the Public Offering in Greece, were allocated based on the valid demand, expressed at the Offering Price, as follows:
- 1,743,504 New Shares (
41% of the totality of the Public Offering) to Retail Investors, out of a total number of 10,618,424 New Shares for which valid demand was expressed by this specific category of investors, and - 2,556,496 New Shares (
59% of the totality of the Public Offering) to Qualifying Investors, out of a total number of 16,070,088 New Shares for which valid demand was expressed by this specific category of investors.
The two legal entities (already shareholders) controlled by members of the family of the Company’s CEO Mr. Pappas, who, in accordance with their initial intent, expressed a total demand for 248,000 New Shares, which was satisfied by
According to the placing agreement, the Joint Coordinators and Bookrunners, the Lead Underwriters, and the Underwriters have not undertaken any obligation to subscribe for the shares. In addition, it is noted that the Joint Coordinators and Bookrunners, the Lead Underwriters, and the Underwriters have not submitted subscription applications in the Public Offering for their own account, with the exception of the “Optima bank S.A.”, which submitted an application for 400,000 New Shares on its own account and was allocated 52,000 New Shares.
The New Shares have not been, and will not be, registered under the U.S. federal securities laws or the securities laws of any other jurisdiction, and the New Shares may not be offered or sold in the United States or to U.S. persons unless an exemption from the registration requirements of the Securities Act is available. The New Shares were offered and sold to non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
Athens, Tuesday 15 September 2026
STAR BULK CARRIERS CORP.
Important Notice – Disclaimer
This announcement includes “forward-looking statements,” with respect to our expectations or beliefs concerning future events. Words such as, but not limited to, “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “projects,” “likely,” “would,” “will,” “could,” “should,” “may,” “forecasts,” “potential,” “continue,” “possible” and similar expressions or phrases may identify forward-looking statements.
All forward-looking statements involve risks and uncertainties. The occurrence of the events described depend on many factors, some or all of which are not predictable or within our control. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, market conditions, disruptions to the mechanics required to operate cross-border trading, disruptions to trading on Euronext Athens, and other technical impediments to the commencement of trading. All future written and verbal forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We undertake no obligation, and specifically decline any obligation, except as required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
1 The Offering Price has been converted into U.S. dollars based on the Euro/U.S. dollar (EUR/USD) exchange rate as of 15.09.2026 (
2 This figure has been converted into USD based on the EUR/USD exchange rate (
Contacts
| Company: | Investor Relations / Financial Media: |
| Simos Spyrou, Christos Begleris | Nicolas Bornozis |
| Co ‐ Chief Financial Officers | President |
| Star Bulk Carriers Corp. | Capital Link, Inc. |
| c/o Star Bulk Management Inc. | 230 Park Avenue, Suite 1540 |
| 40 Ag. Konstantinou Av. | New York, NY 10169 |
| Maroussi 15124 | Tel. (212) 661‐7566 |
| Athens, Greece | E‐mail: starbulk@capitallink.com |
| Email: info@starbulk.com | www.capitallink.com |
| www.starbulk.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was the final offering price and did it differ between investor types?
The final Offering Price was set at €24.50 (US$28.27) per New Share and was the same for all investors, both Qualified and Retail, participating in the Public Offering and in the Parallel Offering.
How was the Public Offering in Greece allocated between Retail and Qualifying Investors?
Of the 4,300,000 New Shares in the Public Offering, 1,743,504 shares (41%) were allocated to Retail Investors from valid demand for 10,618,424 shares, and 2,556,496 shares (59%) to Qualifying Investors from valid demand for 16,070,088 shares.