Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 101

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 101
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 Investor owning the remaining 0.75% of our outstanding shares. In connection with the Restructuring Transactions, Costamare Inc. will contribute $100 million of cash to Costamare Bulkers Holdings. As a result, immediately following completion of the spin-off and the Restructuring Transactions, we expect to have cash or cash equivalents of not less than $100 million. Reasons for the Spin-off We and Costamare Inc. believe that both independent, publicly traded companies will benefit from the spin-off by being better positioned to pursue their distinct operating priorities and strategies and enable management of both companies to focus on unique opportunities for long-term growth and profitability. In addition, we and Costamare Inc. believe the spin-off will have the following benefits:

| • | an opportunity for investors to make more targeted investment decisions and to invest in a distinct “pure-play” international dry bulk shipping company; |

| • | a more efficient allocation of capital to the highest and best use, tailored to the unique characteristics of each business; |

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| • | a capital structure optimized to the needs and unique requirements of each business; and |

| • | simplified corporate structure which enhances manageability and operational efficiency. |

Neither we nor Costamare Inc. can assure you that, after the spin-off, any of the benefits described above or otherwise in this registration statement will be realized to the extent or at the time anticipated or at all. See also “Item 3. Key Information—3.D. Risk Factors”. Costamare Inc. and the Costamare Inc. Board also considered a number of potentially negative factors in their evaluation of the potential separation and spin-off, including the following:

| • | potential disruption to our business and operations; |

| • | management distraction due to the significant amount of time and effort required; |

| • | the significant one-time costs of separating the two companies; |

| • | inability to realize anticipated benefits of the spin-off; and |

| • | incremental costs on the resulting companies, including, among others, as a result of establishing separate corporate management and the costs of being a standalone public company. |

Costamare Inc. and the Costamare Inc. Board believe that the potential benefits of the spin-off outweigh these factors. However, the completion of the spin-off remains subject to the satisfaction, or waiver by the Costamare Inc. Board, of a number of conditions. See “—Conditions to the Spin-off” below for additional detail. When