Star Bulk Carriers Corp. (NasdaqGS:SBLK) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares.

The company has entered into a repurchase agreement with OCM XL Holdings, L.P., Oaktree OBC Container Holdings, LLC and and OCM FIE, LLC. to purchase shares. The repurchase price is $19.50 per common share.

The repurchases will be funded from new debt financing, which the company will repay with proceeds mostly from future vessel sales. The plan will expire on December 1, 2023.