Castor Maritime Inc. (NASDAQ:CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement ("SPA") with MPC Münchmeyer Petersen & Co. GmbH ("MPC Holding") for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG (Deutsche Börse, Scale, ISIN DE000A1TNWJ4) ("MPC Capital").
The acquisition price of the shares has been agreed at a price of €7.00 per share, which is equal to an aggregate cost of €182.8 million payable in cash (approx. USD 192.6 million equivalent), excluding any transaction-related costs. As part of the transaction Castor secured a $100,000,000 new senior term loan facility and $50,000,000 proceeds from the issuance of 50,000 additional Series D cumulative convertible preferred shares, both from Toro Corp. (NASDAQ:TORO), ("Toro"), an entity controlled by Petros Panagiotidis, Castor's Chairman and CEO.