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What happened
Something strange is happening with dry bulk shipping stocks Tuesday. As of 11:45 a.m. EDT, shares of
CTRM Stock: What Is Going on With Popular Castor Maritime Today? A reverse split for CTRM stock helps with Nasdaq, but doesn t likely change outlook for the shipper May 24, 2021, 9:33 am EDT May 24, 2021
Castor Maritime (NASDAQ:
CTRM) are down more than 17% in pre-market trading on Monday morning after the global shipping company announced a 1-for-10 reverse stock split, effective on May 28. The drop is set to extend further losses that CTRM stock has suffered over the past 15 sessions.
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Nasdaq. When the reverse stock split becomes effective, every 10 of the company’s issued and outstanding common shares will be combined into one. Investors should note that this will occur without any change to the par value of $0.001 per share or any shareholder’s ownership percentage of the common shares.
Castor Maritime Inc., a diversified global shipping company, announces that its board of directors (the “Board”) has determined to effect a 1-for-10 reverse stock split of the Company’s common shares. The Company’s shareholders approved the reverse stock split by a ratio of not less than 1-for-2 and not more than 1-for-75 and granted the Board .
Castor Maritime to acquire two Panamax dry bulk carriers 18 May 2021 (Last Updated May 18th, 2021 09:38)
Castor Maritime has signed agreements to purchase a Japanese-built and a Korean-built Panamax dry bulk vessel.
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The company will acquire a 2013 Japanese-built and a 2014 Korean-built Panamax dry bulk carrier for a purchase price of $19.06m and $21m, respectively. Credit: Fredrick Filix from Unsplash.
Cyprus-based shipping company Castor Maritime has agreed to buy two Panamax dry bulk carriers from unaffiliated third parties via two separate, fully-owned subsidiaries.
The company will acquire a 2013 Japanese-built dry bulk carrier for $19.06m and a 2014 Korean-built dry bulk carrier for $21m.