Contact Information: Contact: Company: Akis Tsirigakis President and CEO Star Bulk Carriers Corp. Aethrion Center, Suite B-34 40 Ag. Konstantinou Maroussi 15124 Athens, Greece E-mail: ir@starbulkcarriers.com Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: starbulk@capitallink.com www.capitallink.com
Star Bulk Carriers Announces the Completion of the Redomiciliation Merger
Star Bulk to Commence Trading on the NASDAQ Global Market Under the Symbols "SBLK" and "SBLKW"; Star Maritime Acquisition Corp. Has Ceased Trading on the American Stock Exchange
| Source: Star Bulk Carriers Corp.
NEW YORK, NY--(Marketwire - November 30, 2007) - Star Bulk Carriers Corp. (NASDAQ : SBLK ), or
Star Bulk, announced today the completion of the Redomiciliation Merger by
which Star Maritime has merged with and into Star Bulk with Star Bulk as
the surviving entity. Star Bulk's common stock and warrants have been
approved for listing on the NASDAQ Global Market under the symbols "SBLK"
and "SBLKW" respectively. Trading under said symbols is expected to
commence on Monday, December 3, 2007. The Company expects to take delivery
of its first vessel early next week.
Each outstanding share of Star Maritime common stock, par value $0.0001 per
share, has been converted into the right to receive one share of Star Bulk
common stock, par value $0.01 per share, and each outstanding warrant of
Star Maritime has been assumed by Star Bulk with the same terms and
restrictions except that each warrant will be exercisable for common stock
of Star Bulk.
The Company also announced that as a result of the Redomiciliation Merger,
Star Maritime Acquisition Corp. will be delisted and will no longer trade
on the American Stock Exchange.
About Star Bulk
Star Bulk was incorporated in the Marshall Islands on December 13, 2006
with no history of operations, and is headquartered in Athens, Greece. Star
Bulk has definitive agreements to acquire a fleet of eight drybulk carriers
from subsidiaries of TMT Co, Ltd., Taiwan (TMT). Star Bulk is scheduled to
take delivery of eight dry bulk carriers, consisting of two Capesize, one
Panamax and five Supramax dry bulk carriers with an average age of
approximately 10 years and a combined cargo carrying capacity of 691,213
deadweight tons from certain wholly owned subsidiaries of TMT Co., Ltd.
("TMT") a global shipping company with management headquarters in Taiwan.
Star Bulk's vessels transport major bulks, which include iron ore, coal and
grain and minor bulks such as bauxite, phosphate and steel products.