Star Bulk Announces Public Offering of 16,500,000 Common Shares

Star Bulk Carriers Corp SBLK today announced that it intends to offer and sell 16,500,000 common shares in an underwritten public offering. All of the shares in the offering are to be sold by Star Bulk. As part of the offering, the Company has granted the underwriters a 30-day option to purchase an additional 2,475,000 common shares to cover over-allotments, if any. The Company expects to use the net offering proceeds to fund a portion of the aggregate purchase price for two secondhand drybulk carriers it has contracted to acquire by August 31, 2011 and for general corporate purposes. The common shares trade on the Nasdaq Global Select Market under the symbol "SBLK".