Star Bulk Carriers Corp. announced that its Board of Directors approved a backstopped equity rights offering, which will allow the company to raise equity capital through the sale of its commonshares. The proceeds are expected to be primarily used for orders for fuel-efficient dry bulk vessels with some of the proceeds being reserved for working capital and general corporate purposes. The company said it plans to raise gross proceeds of $75 million through a backstopped equity offering of 14,018,692 common shares only to holders of record of its common shares as of the close of business on May 15, 2013. In connection with this offering…
