Star Bulk Carriers (NASDAQ:SBLK)

CAPS Rating: 2 out of 5

A blank check company which was formed to serve as a vehicle for the acquisition through a merger, capital stock exchange, asset acquisition, or other similar business combination with one or more businesses in the shipping industry.

Recs

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Player Avatar imacg5 (77.19) Submitted: 1/3/2013 12:55:00 PM : Underperform Start Price: $6.90 SBLK Score: -38.84

This deal with it's creditors is horrible.
Besides kicking the debt can down the road.
They have an increase in interest.
A Cash sweep of all profits to the banks.
And they have to raise $30 million, probably by selling shares.

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