The final consideration for the Augustea vessel purchase is 10.3 million common shares of the company, equal to approximately 11.3% of Star Bulk’s common shares after the closing of the Augustea vessel purchase. As part of the transaction, the company will assume debt of approximately US$309 million.
Following the closing of the Augustea vessel purchase, Raffaele Zagari will be appointed to the Board of Directors of Star Bulk as a Class C Director. The company will have approximately 91.7 million common shares issued and outstanding.
