[6-K] Castor Maritime Inc. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Allarity Therapeutics, Inc. (Nasdaq: ALLR) filed a Form 8-K covering executive management changes effective at the end of Q2-25.

• CFO Resignation: Alexander Epshinsky resigned on 30 Jun 2025. The company states the departure was not related to disagreements over operations, accounting or disclosure.
• CFO Appointment: Effective 1 Jul 2025, Jeffrey S. Ervin, age 48, was named part-time Chief Financial Officer. Ervin is an experienced public-company founder/CEO who led IMAC Holdings’ 2019 Nasdaq IPO and currently serves as an independent director of Cingulate, Inc.
• Compensation Terms: Employment Agreement sets a $175,000 annual base salary. If terminated in connection with a Change-of-Control, Ervin will receive six months of salary continuation.
• Governance Disclosures: No family relationships or related-party transactions (>$120k) were identified. Exhibit 10.1 contains the full employment agreement.

The filing is limited to leadership transition matters; it contains no operating or financial performance data. Investors should monitor future filings to assess execution under new financial leadership and any implications for liquidity or strategic direction.

Positive

• Experienced replacement CFO with prior IPO and board credentials may enhance capital-markets expertise.
• Cost-effective compensation structure ($175 k part-time) conserves cash for a pre-revenue biotech.

Negative

• Leadership turnover of the CFO role can create short-term execution risk and uncertainty.
• Part-time CFO arrangement may raise investor concerns about management bandwidth and the company’s financial resources.

Insights

Corporate Governance Expert

TL;DR – Routine CFO turnover with experienced successor; neutral governance impact.

The resignation of CFO Alexander Epshinsky and same-day appointment of Jeffrey S. Ervin reflects orderly succession planning. The company explicitly notes no dispute, mitigating red-flag concerns. Ervin brings IPO experience and current board service, which should strengthen finance discipline, although his part-time status and modest $175 k salary suggest constrained cash resources or limited workload. The six-month severance on change-of-control is standard. Overall governance risk remains contained, but investors will want clarity on Ervin’s bandwidth and near-term capital strategy.

Small-Cap Biotech Financial Analyst

TL;DR – Leadership change slightly negative due to part-time structure but offset by seasoned hire; overall neutral to shares.

CFO turnover in development-stage biotechs often signals funding pressure. While Epshinsky’s departure lacks controversy, the shift to a part-time CFO may underscore cost-containment needs ahead of upcoming financing rounds. Conversely, Ervin’s track record in taking companies public and managing restructurings could help secure capital. The compensation package is minimal versus industry norms, preserving cash burn. With no operational metrics disclosed, market reaction should be muted unless subsequent filings reveal strategic pivots.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2025

Commission File Number: 001-38802

CASTOR MARITIME INC.

(Translation of registrant’s name into English)

223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F  ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Castor Maritime Inc.’s subsidiary, MPCC CSI LTD., a company affiliated with MPC Capital AG, has acquired 3.44% shares in MPC Container Ships ASA (“MPCC”), resulting in MPC Capital AG and its affiliated entities, collectively increasing their holding of total shares and voting rights in MPCC from approximately 16.68% to 20.12%, or 89,260,056 shares. MPC Capital AG is the founding shareholder of MPCC.

Attached to this report on Form 6-K as Exhibit 99.1 is a copy of the notification of major holdings.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CASTOR MARITIME INC.
Dated: July 7, 2025
	By:	/s/ Petros Panagiotidis
		Petros Panagiotidis
		Chairman, Chief Executive Officer and Chief Financial Officer

FAQ

Why did Allarity Therapeutics' CFO resign?

The filing states Alexander Epshinsky resigned on 30 Jun 2025 and that the resignation was not due to any disagreement with the company’s operations or accounting.

Who is the new CFO of ALLR?

Effective 1 Jul 2025, Jeffrey S. Ervin was appointed part-time Chief Financial Officer.

What is Jeffrey Ervin’s compensation at Allarity Therapeutics?

The Employment Agreement sets an $175,000 annual base salary with six months’ severance upon a Change-of-Control termination.

Does the new CFO have prior public company experience?

Yes. Ervin co-founded and led IMAC Holdings through its 2019 Nasdaq IPO and serves as an independent director at Cingulate, Inc.

Are there any related-party transactions involving the new CFO?

The company disclosed no transactions over $120,000 involving Mr. Ervin or his immediate family.

Will this 8-K affect ALLR’s financial statements?

No financial results were included; the 8-K is limited to Item 5.02 executive changes.