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Star Bulk begins trade on Oslo Stock Exchange
Star Bulk Carriers Corp., announced on July 6 2018 that it had closed the acquisition of fifteen operating dry bulk vessels from Songa Bulk ASA for an aggregate of 13.725 million common shares of Star Bulk and $145.0 million in cash. As announced previously by Songa, the first distribution of the consideration shares by Songa to its eligible shareholders is expected to be effected today, July 13, 2018. Following such distribution, Star Bulk has satisfied all listing obligations and will commence trading on the Oslo Stock Exchange under the ticker “SBLK R” starting on Monday July 16, 2018.
The Consideration Shares will be restricted from trading in the U.S., including through the Nasdaq Global Select Market, for a period of six months following the distribution of the Consideration Shares to the shareholders of Songa, or until January 14, 2019 (and thereafter to the extent required by applicable laws, rules and regulations), unless sold pursuant to a transaction exempt from, or not subject to, registration under the Securities Act of 1933, as amended.
The Consideration Shares will not be registered under the Act may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Act.