Castor Maritime is raising more money to pursue secondhand bulker buys.
The Cypriot owner said it will sell nearly 57.8m of its Nasdaq-listed shares to unaffiliated institutional investors at $0.30 per share.
The $17.3m of new stock is being issued together with warrants to buy another 57.8m shares.
The warrants are convertible at $0.35 per share.
It is yet another deal involving New York-based Maxim Group as placement agent.
