Cypriot shipowner Castor Maritime has succeeded in selling shares worth $20.7m as it plots secondhand bulker buys.
The Nasdaq-listed company said it had closed an upsized offering of 51.4m shares at a price of $0.35 each. Each share included a warrant to buy another over the next five years.
New York's Maxim Group acted as the sole book-running manager in connection with the offering and bought another 7.71m
