<SEC-DOCUMENT>0001567619-15-000014.txt : 20150109
<SEC-HEADER>0001567619-15-000014.hdr.sgml : 20150109
<ACCEPTANCE-DATETIME>20150109091227
ACCESSION NUMBER:		0001567619-15-000014
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150109
DATE AS OF CHANGE:		20150109

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Star Bulk Carriers Corp.
		CENTRAL INDEX KEY:			0001386716
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-197886
		FILM NUMBER:		15517741

	BUSINESS ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
		BUSINESS PHONE:		011-30-210-617-8400

	MAIL ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Star Bulk Carriers Corp.
		CENTRAL INDEX KEY:			0001386716
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
		BUSINESS PHONE:		011-30-210-617-8400

	MAIL ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>s000695x5_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 12pt">Issuer Free
Writing Prospectus</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 12pt">Filed Pursuant
to Rule 433</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 12pt">Registration
No. 333-197886</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 12pt">January 9,
2015&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>PRICING
TERM SHEET</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 68px; width: 336px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>49,000,418 COMMON
SHARES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>The information in this pricing term sheet relates to the
offering (the &#8220;Offering&#8221;) of 49,000,418 common shares of Star Bulk Carriers Corp. (the &#8220;Company&#8221;) and should be
read together with the preliminary prospectus supplement, dated January 8, 2015, relating to the Offering and the base prospectus,
dated September 5, 2014, including the documents incorporated by reference therein (collectively, the &#8220;Preliminary Prospectus&#8221;),
relating to the Company&#8217;s Registration Statement on Form F-3 (File No.333-197886) (the &#8220;Registration Statement&#8221;).
Terms used but not defined herein have the meanings given to them in the Preliminary Prospectus.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 17.1pt">Issuer&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Bulk Carriers Corp.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 17.1pt">Firm common shares offered</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 35.1pt">To the Significant Shareholders&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">37,250,418</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 35.1pt">To other investors&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">11,750,000</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 17.1pt">Common shares subject to the underwriters&rsquo; option to purchase additional common shares&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">1,762,500</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: left; text-indent: -17.1pt; padding-left: 17.1pt">Significant Shareholders&rsquo; percentage of ownership of common shares of the Company after the Offering &nbsp;(assuming distribution of all 29,917,312 common shares comprising the Excel Vessel Share Consideration by Excel to its equityholders)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Assuming no exercise of the underwriters&rsquo; option to purchase additional common shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid">Assuming exercise of the underwriters&rsquo; option to purchase additional common shares in full</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; text-indent: 0.5in; padding-left: 5.4pt">Oaktree&#9;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 28%; padding-left: 5.4pt">58.0%</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; width: 26%">57.4%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0.5in; padding-left: 5.4pt">Monarch&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">5.9%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid">5.8%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0.5in; padding-left: 5.4pt">Angelo, Gordon &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">5.9%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid">5.8%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0.5in; padding-left: 5.4pt; padding-bottom: 1pt">Pappas Shareholders&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 1pt solid">7.8%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; border-left: Black 1pt solid; border-bottom: Black 1pt solid">7.8%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0.5in; padding-left: 5.4pt; padding-bottom: 2.5pt">Total&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 2.5pt double">77.6%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; border-bottom: Black 2.5pt double; border-left: Black 1pt solid">76.8%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Trade date&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">January 9, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Closing date&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">January 14, 2015 (T+3) (DTC)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Public offering price&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">$5.00</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Gross proceeds to the Company</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -17.1pt; padding-left: 53.1pt">Assuming no exercise of the underwriters&rsquo; option to purchase additional common shares&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">$245,002,090</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -17.1pt; padding-left: 53.1pt">Assuming exercise of the underwriters&rsquo; option to purchase additional common shares in full&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">$253,814,590</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Net proceeds to the Company (before
    expenses) <SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -17.1pt; padding-left: 53.1pt">Assuming no exercise of the underwriters&rsquo; option to purchase additional common shares&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">$241,796,280</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -17.1pt; padding-left: 53.1pt">Assuming exercise of the underwriters&rsquo; option to purchase additional common shares in full&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">$250,190,186</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; vertical-align: top">Joint Book-Running Managers&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0">Jefferies LLC</P>
                                                      <P STYLE="margin-top: 0; margin-bottom: 0">Morgan Stanley &amp; Co. <BR></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; vertical-align: top">Co-Managers&#9;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0">ABN Amro N.V. &nbsp; <BR>Cr&eacute;dit Agricole Corporate and Investment Bank<BR>DNB ASA &nbsp; <BR>DVB Bank SE &nbsp; </P>

</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>The underwriters will not receive any underwriting discount on the sale of the common shares sold to the Significant Shareholders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has filed the Registration Statement with the
Securities and Exchange Commission (&#8220;SEC&#8221;) for the Offering to which this communication relates. Before you
invest, you should read the prospectus in such Registration Statement, the Preliminary Prospectus and other documents the Company has filed
with the SEC for more complete information about the Company and this Offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Company, any underwriter or any dealer
participating in the Offering will arrange to send you the prospectus if you request it by calling Jefferies toll free at
1-877-547-6340 or emailing prospectus_department@jefferies.com or Morgan Stanley at 1-866-718-1649 or emailing
prospectus@morganstanley.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
