Company: CTRM
Filing Date: 2025-10-01
Form Type: 6-K
Source: 0001140361-25-036884
Chunk: 1

Company: Castor Maritime Inc.
Filing Date: 2025-10-01
Form: 6-K
Chunk 1
---
 on the Series E Preferred Shares accrue and are cumulative from their issue date and are payable quarterly on the 15th day of each January, April, July and October, with the first payment date occurring on October 15, 2025. If declared by Castor’s board of directors, dividends will be paid in either cash or Series E Preferred Shares. The Series E Preferred Shares are convertible, in whole or in part, at Toro’s option, subject to certain conditions, into common shares of Castor at any time after the first anniversary of their issue date, at the value weighted average price of Castor’s common shares over the 5 consecutive trading day period immediately preceding the conversion, subject to a minimum conversion price of $0.30 per common share of Castor. A copy of the Statement of Designation of the Rights, Preferences and Privileges of the Series E Preferred Shares is attached to this report on Form 6-K as Exhibit 99.2. The Purchase Agreement contains customary representations, warranties, and covenants of each party. Pursuant to the Purchase Agreement, Toro may not dispose of any of the Series D Preferred Shares for a period of 180 days after the closing date of the transaction. Castor has granted Toro certain registration rights with respect to the common shares issuable upon conversion of the Series D Preferred Shares. Closing occurred on September 30, 2025. A copy of the Purchase Agreement is attached to this report on Form 6-K as Exhibit 99.3. The summaries of the Statement of Designation and the Purchase Agreement contained herein do not purport to be complete and are subject to, and qualified in its entirety by reference to, the Statement of Designation and the Purchase Agreement, as applicable, each of which is filed as an exhibit hereto. Toro is a public company listed on the Nasdaq Capital Market. Toro’s Chairman, Chief Executive Officer and controlling shareholder, is also Castor’s Chairman, Chief Executive Officer and Chief Financial Officer. The foregoing transaction and its terms were approved by the board of directors of Castor and Toro at the recommendation of their respective independent committees who negotiated the transaction. Exhibit Index

| Exhibit No. 
 99.1        | Description                                                                                                                                
 Press Release of Castor Maritime Inc., dated as of October 1, 2025                                                                         |
|:------------|:-------------------------------------------------------------------------------------------------------------------------------------------|
| 99.2        | Statement of Designation of the Rights, Preferences and Privileges of the 8.75% Series E Cumulative