---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-294598"
form_type: "8-K"
ticker: null
cik: "0001322439"
company_name: "Eagle Bulk Shipping Inc."
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T12:34:46.547906+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Eagle Bulk to be acquired by Star Bulk in all-stock merger; exchange ratio 2.6211

## Summary
- Exchange ratio: 2.6211 Star Bulk shares per Eagle Bulk share; Eagle Bulk shareholders to own ~29% of combined company.
- Deal unanimously approved by both boards; subject to EGLE shareholder vote, HSR clearance; expected close by Sept 2024.
- Eagle Bulk granted 45-day 'go-shop' period until Jan 10, 2024, limited to Danaos Corp and Castor Maritime.
- Termination fee of $20M ($10M during go-shop) payable by Eagle Bulk if it accepts superior proposal or changes recommendation.
- CFO Constantine Tsoutsoplides enters new employment agreement with retention bonus up to $1.1M and transition to Senior Advisor post-merger.

## SEC filing metadata
- accession: 0001193125-23-294598
- form_type: 8-K
- cik: 0001322439
- company_name: Eagle Bulk Shipping Inc.
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1322439/000119312523294598/0001193125-23-294598-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1322439/000119312523294598/d667445d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-294598
- JSON: https://secwatch.observer/filing/0001193125-23-294598.json
- Plain text: https://secwatch.observer/filing/0001193125-23-294598.txt

## Key facts
- Executive change
  Constantine Tsoutsoplides changed role as Chief Financial Officer (transitioning to Senior Advisor post-merger) at Eagle Bulk Shipping Inc..
  - Action: role change
  - Role: Chief Financial Officer (transitioning to Senior Advisor post-merger)
  source text: Mr. Tsoutsoplides will continue to serve as Eagle Bulk’s Chief Financial Officer until the consummation of the Merger (the “Closing Date”). From and after the Closing Date, Mr. Tsoutsoplides will serve as a Senior Advisor to Star Bulk
  evidence_url: https://www.sec.gov/Archives/edgar/data/1322439/000119312523294598/0001193125-23-294598-index.htm
- Material Agreements
  Eagle Bulk Shipping Inc. entered into Agreement and Plan of Merger with Star Bulk Carriers Corp., Star Infinity Corp. (effective 2023-12-11).
  - Action: entry
  - Agreement: merger
  - Counterparty: Star Bulk Carriers Corp., Star Infinity Corp.
  - Effective: 2023-12-11
  source text: On December 11, 2023, Eagle Bulk Shipping Inc., a Republic of the Marshall Islands corporation (“ Eagle Bulk ”), Star Bulk Carriers Corp., a Republic of the Marshall Islands corporation (“ Star Bulk ”), and Star Infinity Corp., a Republic of the Marshall Islands corporation and wholly-owned subsidiary of Star Bulk (“ Merger Sub ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), pursuant to which Eagle Bulk and Star Bulk have agreed, subject to the terms and conditions of the Merger Agreement, to effect a stock-for-stock merger whereby Merger Sub will merge with and into Eagle Bulk, resulting in Eagle Bulk surviving the merger as a wholly owned subsidiary of Star Bulk (the “ Merger ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1322439/000119312523294598/0001193125-23-294598-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.