{"id":838633,"date":"2025-04-17T09:07:15","date_gmt":"2025-04-17T13:07:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/"},"modified":"2025-04-17T09:07:15","modified_gmt":"2025-04-17T13:07:15","slug":"costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/","title":{"rendered":"Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li>\n          <em>Record date set for April 29, 2025<\/em>\n        <\/li>\n<li>\n          <em>Distribution date for Costamare Bulkers shares anticipated to be May 6, 2025<\/em>\n        <\/li>\n<\/ul>\n<p align=\"justify\">MONACO, April  17, 2025  (GLOBE NEWSWIRE) &#8212; Costamare Inc. (NYSE:CMRE) (the \u201cCompany\u201d) today announced that its Board of Directors has approved the previously announced spin-off of its dry bulk business into a standalone company, Costamare Bulkers Holdings Limited (\u201cCostamare Bulkers\u201d). The Company expects to complete the transaction, by way of a pro rata distribution to Costamare Inc. shareholders, on May 6, 2025.<\/p>\n<p align=\"justify\">Additional information regarding Costamare Bulkers and the proposed spin-off transaction may be found in the Registration Statement on Form 20-F (the \u201cRegistration Statement\u201d) filed by Costamare Bulkers with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), which is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BnLSxH6bOGYcRwjrPgD5dV2xv1s93OC8zAN1q3sT31TmAFjzcyIRV6rWXuOY1nU5s5XFQfbewGQbgJOuKBRSGA==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.<\/p>\n<p>\n        <strong>Timeline for planned spin-off<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Date<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Event<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>April 29, 2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">Record date<br \/>\u201cDue-bill\u201d trading of Costamare Inc. shares begins<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>May 1, 2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">\u201cWhen-issued\u201d trading of Costamare Bulkers shares begins<br \/>\u201cEx-distribution\u201d trading of Costamare Inc. shares begins<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>May 6, 2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">Last day of \u201cdue-bill\u201d, \u201cwhen-issued\u201d and \u201cex-distribution\u201d trading<br \/>Distribution of Costamare Bulkers shares to holders of Costamare Inc. shares<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>May 7, 2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: top\">Regular-way trading of Costamare Bulkers shares begins<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<ul type=\"disc\">\n<li>\n          <strong>Record date: <\/strong>To accomplish the spin-off, Costamare Inc. will distribute all of the Costamare Bulkers shares held by Costamare Inc. to holders of Costamare Inc. common shares on a pro rata basis. In the distribution, each Costamare Inc. shareholder will receive one common share of Costamare Bulkers share for every five Costamare Inc. common shares they hold as of the close of business on April 29, 2025, the record date for the distribution.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <strong>\u201cDue-bill\u201d trading: <\/strong>The New York Stock Exchange (the \u201cNYSE\u201d) will implement a \u201cdue-bill\u201d trading market for Costamare Inc. shares beginning on April 29, 2025 and continuing through the Distribution Date (defined below), meaning that Costamare Inc. shares will trade with an entitlement to shares of Costamare Bulkers to be distributed pursuant to the distribution.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <strong>\u201cWhen-issued\u201d and \u201cex-distribution\u201d trading:<\/strong> Beginning on or about May 1, 2025 and continuing through the Distribution Date, it is expected that Costamare Bulkers shares will trade on a \u201cwhen-issued\u201d basis on the NYSE under the ticker symbol \u201cCMDB WI.\u201d<\/p>\n<p>Also beginning on or about May 1, 2025 and continuing through the Distribution Date, it is expected that there will be two markets in Costamare Inc. common shares. Costamare Inc. shares that trade in the \u201cregular-way\u201d market under the symbol \u201cCMRE\u201d will trade with an entitlement to shares of Costamare Bulkers to be distributed pursuant to the distribution. Costamare Inc. shares that trade in the \u201cex-distribution\u201d market under the symbol \u201cCMRE WI\u201d will trade without an entitlement to Costamare Bulkers shares. Costamare Inc. shareholders who sell their shares in the \u201cregular-way\u201d market from the record date and up to and including the Distribution Date will also be selling their entitlement to receive Costamare Bulkers shares in the distribution. Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling Costamare Inc. shares on or before the Distribution Date.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <strong>Distribution date: <\/strong>Holders of Costamare Inc. common shares will receive one common share of Costamare Bulkers for every five Costamare Inc. common shares held as of the record date. Costamare Inc. shareholders will receive cash upon the sale of the aggregated fractional shares in lieu of any fractional shares. The distribution is expected to occur at 5:00 p.m., New York City time, on May 6, 2025 (the \u201cDistribution Date\u201d), subject to customary conditions. At market close on May 6, 2025, when-issued trading of Costamare Bulkers\u2019 shares and ex-distribution trading of Costamare Inc.\u2019s shares will end.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <strong>Listing date: <\/strong>On May 7, 2025, Costamare Bulkers shares are expected to be listed and traded \u201cregular-way\u201d on the NYSE under the ticker symbol \u201cCMDB.\u201d Costamare Inc. will continue to trade on the NYSE under the ticker symbol \u201cCMRE.\u201d<\/li>\n<\/ul>\n<p align=\"justify\">The proposed distribution and spin-off remain subject to, among other things, the Registration Statement being declared effective by the SEC and the approval of the listing of the Costamare Bulkers common shares on the NYSE.<\/p>\n<p align=\"justify\">Morgan Stanley &amp; Co. LLC is advising Costamare Inc. on the transaction.<\/p>\n<p align=\"justify\">\n        <strong>About Costamare Bulkers Holdings Limited<\/strong>\n      <\/p>\n<p align=\"justify\">Costamare Bulkers Holdings Limited will be an international owner and operator of dry bulk vessels. Costamare Bulkers\u2019 owned dry bulk fleet will consist of 38 vessels with a total carrying capacity of approximately 3,017,000 dwt, including one vessel that Costamare Bulkers has agreed to sell, with a carrying capacity of approximately 76,600 dwt. Costamare Bulkers will also own a dry bulk operating platform (CBI) which charters in\/out dry bulk vessels, enters into contracts of affreightment, forward freight agreements and may also utilize hedging solutions. Costamare Bulkers\u2019 common stock will trade on the New York Stock Exchange under the symbol \u201cCMDB\u201d.<\/p>\n<p align=\"justify\">\n        <strong>About Costamare Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">Costamare Inc. is one of the world\u2019s leading owners and providers of containerships for charter. The Company has 51 years of history in the international shipping industry and a fleet of 68 owned containerships, with a total capacity of approximately 513,000 TEU. The Company also participates in a leasing business. The Company\u2019s common stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock trade on the New York Stock Exchange under the symbols \u201cCMRE\u201d, \u201cCMRE PR B\u201d, \u201cCMRE PR C\u201d and \u201cCMRE PR D\u201d, respectively.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking statements\u201d. In some cases, you can identify these statements by forward-looking words such as \u201cbelieve\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cestimate\u201d, \u201cproject\u201d, \u201cforecast\u201d, \u201cplan\u201d, \u201cpotential\u201d, \u201cmay\u201d, \u201cshould\u201d, \u201ccould\u201d and \u201cexpect\u201d and similar expressions, or by express or implied discussions regarding the potential completion of the announced spin-off of Costamare Bulkers, regarding whether the announced spin-off is in the best interests of shareholders, regarding the future commercial performance of Costamare Inc. or Costamare Bulkers, or regarding any potential strategic benefits, synergies or opportunities as a result of these actions. You should not place undue reliance on these statements. These statements are not historical facts but instead represent only the Company\u2019s beliefs regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company\u2019s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. There can be no guarantee that the proposed transaction will be completed in the expected form or within the expected time frame or at all. Nor can there be any guarantee that Costamare Inc. or a separate dry bulk business will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of these actions, that shareholders will achieve any particular level of shareholder returns or that the spin-off of Costamare Bulkers will be in the best interests of shareholders. For a discussion of some of the risks and important factors that could affect future results, see the discussions in the Company\u2019s Annual Report on Form 20-F (File No. 001-34934) and Costamare Bulkers\u2019 Registration Statement on Form 20-F (File No. 001-42581).<\/p>\n<p align=\"justify\">This press release is not an offer to sell, or a solicitation of an offer to buy or sell, any securities of Costamare Inc. or Costamare Bulkers, and may not be relied upon in connection with the purchase or sale of any such security. Should you wish to invest in Costamare Bulkers, you should do so solely on the basis of information filed by Costamare Bulkers with the SEC at or around the time of the spin-off, including the section \u201cRisk Factors\u201d included in the Registration Statement that Costamare Bulkers has filed with the SEC. The information filed with the SEC will be available on the SEC\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BnLSxH6bOGYcRwjrPgD5dWMYoLDwj90N-byJVPEZxjvCwXN2pLR6HboRQOhttiBxPu8ni2SAvSQxqOd2g-NtCA==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.<\/p>\n<p align=\"left\">\n        <strong>Company Contacts:<\/strong>\n      <\/p>\n<p>Gregory Zikos &#8211; Chief Financial Officer<br \/>Konstantinos Tsakalidis &#8211; Business Development<\/p>\n<p>Costamare Inc., Monaco<br \/>Tel: (+377) 93 25 09 40<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=b83l3V-Xgq3MjPCNF8Rd7V7aJsNJ-f0eg8ogOJsGv3HvOE7hyspaZtGZlJ7cSBHI83lO-4552VCbEpb32bNZFYgszMO6isgByvisGjLr44E=\" rel=\"nofollow\" target=\"_blank\">ir@costamare.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyNDE5MSM2ODcwNjQzIzIwOTA0MDY=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZDdlM2IyMWQtODI0OS00NTA5LWE0NzYtYmU4ZmMwZDQzNGMyLTExMDE5NzctMjAyNS0wNC0xNy1lbg==\/tiny\/Costamare-Inc.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Record date set for April 29, 2025 Distribution date for Costamare Bulkers shares anticipated to be May 6, 2025 MONACO, April 17, 2025 (GLOBE NEWSWIRE) &#8212; Costamare Inc. (NYSE:CMRE) (the \u201cCompany\u201d) today announced that its Board of Directors has approved the previously announced spin-off of its dry bulk business into a standalone company, Costamare Bulkers Holdings Limited (\u201cCostamare Bulkers\u201d). The Company expects to complete the transaction, by way of a pro rata distribution to Costamare Inc. shareholders, on May 6, 2025. Additional information regarding Costamare Bulkers and the proposed spin-off transaction may be found in the Registration Statement on Form 20-F (the \u201cRegistration Statement\u201d) filed by Costamare Bulkers with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), which is available &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-838633","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Record date set for April 29, 2025 Distribution date for Costamare Bulkers shares anticipated to be May 6, 2025 MONACO, April 17, 2025 (GLOBE NEWSWIRE) &#8212; Costamare Inc. (NYSE:CMRE) (the \u201cCompany\u201d) today announced that its Board of Directors has approved the previously announced spin-off of its dry bulk business into a standalone company, Costamare Bulkers Holdings Limited (\u201cCostamare Bulkers\u201d). The Company expects to complete the transaction, by way of a pro rata distribution to Costamare Inc. shareholders, on May 6, 2025. Additional information regarding Costamare Bulkers and the proposed spin-off transaction may be found in the Registration Statement on Form 20-F (the \u201cRegistration Statement\u201d) filed by Costamare Bulkers with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), which is available &hellip; Continue reading &quot;Costamare Inc. 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Announces Plans for Costamare Bulkers Holdings Limited Spin-Off - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/","og_locale":"en_US","og_type":"article","og_title":"Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off - Market Newsdesk","og_description":"Record date set for April 29, 2025 Distribution date for Costamare Bulkers shares anticipated to be May 6, 2025 MONACO, April 17, 2025 (GLOBE NEWSWIRE) &#8212; Costamare Inc. (NYSE:CMRE) (the \u201cCompany\u201d) today announced that its Board of Directors has approved the previously announced spin-off of its dry bulk business into a standalone company, Costamare Bulkers Holdings Limited (\u201cCostamare Bulkers\u201d). The Company expects to complete the transaction, by way of a pro rata distribution to Costamare Inc. shareholders, on May 6, 2025. Additional information regarding Costamare Bulkers and the proposed spin-off transaction may be found in the Registration Statement on Form 20-F (the \u201cRegistration Statement\u201d) filed by Costamare Bulkers with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), which is available &hellip; Continue reading \"Costamare Inc. Announces Plans for Costamare Bulkers Holdings Limited Spin-Off\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-17T13:07:15+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyNDE5MSM2ODcwNjQzIzIwOTA0MDY=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/costamare-inc-announces-plans-for-costamare-bulkers-holdings-limited-spin-off\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Costamare Inc. 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