Castor Maritime has put up two bulkers as collateral for a $15m loan while it considers how to get on the right side of the Nasdaq stock exchange's minimum share-price rule.
The New York-listed owner of six panamaxes expects to obtain the credit facility next month from an undisclosed European lender.
The Greek company, which announced the deal on Wednesday but did not say how it plans to spend the loan proceeds, did not immediately return calls.
