Castor Maritime Inc. Announces Delivery of the M/V Magic Sun and New Time Charter Contract
Castor Maritime Inc. - Common Shares (CTRM)
Company Research
Source: GlobeNewswire
LIMASSOL, Cyprus, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a global shipping company specializing in the ownership of dry-bulk vessels, announced today, pursuant to a memorandum of agreement dated July 25, 2019, it completed, through one of its wholly-owned subsidiaries, the acquisition of its second vessel, namely the Magic Sun, a 2001 Korean built Panamax dry bulk carrier, from an unaffiliated seller, for a purchase price of $6.7 million (the “Magic Sun Acquisition”). The Magic Sun Acquisition was financed with i) cash on hand and ii) the proceeds from a $5.0 million unsecured term loan agreement entered into between the Company and an entity controlled by Petros Panagiotidis, Castor’s Chairman, Chief Executive Officer and Chief Financial Officer, which closed on August 30, 2019 (the “$5.0 Million Term Loan Facility”). The $5.0 Million Term Loan Facility bears an annual fixed interest rate of 6% and has a bullet repaymen
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CTRM
Sec Filings
- 12/19/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/12/24 - Form 6-K
- CTRM's page on the SEC website