Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 36

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 36
---
 emission allowances prices and freight rates can result in reductions in our shareholders’ equity, our cash position and our income; |

| • | We are subject to regulation and liability under environmental and operational safety laws that could require significant expenditures and affect our cash flows and net income; |

| • | Our business depends upon certain members of our senior management who may not necessarily continue to work for us; |

3

TABLE OF CONTENTS

| • | Our chief executive officer has an affiliation with one of our agencies and our largest shareholder has affiliations with our affiliated managers, three of our agencies and others that could create conflicts of interest between us and our affiliated managers, our agencies or other entities in which they have an interest; |

| • | Costamare Inc. may compete in the international dry bulk shipping industry, and we may compete in the international containership shipping industry; and |

| • | Our affiliated managers and agencies are privately held companies and there is little or no publicly available information about them. |

Risks Relating to Our Securities and the Spin-Off

| • | Our common shares have never been publicly traded and there is no existing market for our common shares; |

| • | Following the spin-off, the aggregate trading value of Costamare Bulkers Holdings and Costamare Inc. common shares may be less than the trading value of Costamare Inc.’s common shares before the spin-off; |

| • | Substantial sales of our common shares may occur shortly following the spin-off, which could cause our share price to decline; |

| • | The market price of our common shares may be highly volatile and future sales of our common shares could cause the market price of our common shares to decline; |

| • | Our ability to operate our business effectively may suffer if we do not effectively establish our own administrative and support systems necessary to operate as a standalone public company; |

| • | The separation and spin-off from Costamare Inc. could have an adverse effect on our business or cause management distraction or business disruption as we begin to operate as a standalone company; and |

| • | Members of the Konstantakopoulos family are our principal existing shareholders and will control the outcome of matters on which our shareholders are entitled to vote; their interests may be different from yours. |

Industry Risk Factors Our profitability will be dependent on the level of charter and freight rates in the international dry bulk shipping industry which are based on macroeconomic factors outside of our control. The cyclical nature of the shipping industry may lead to volatile