Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 180

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 180
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 documentation for a hunting license loan facility. |

Basis of Presentation Costamare Bulkers Holdings was incorporated on September 29, 2023 under the laws of the Republic of the Marshall Islands. We (i) serve as the ultimate holding company of the subsidiaries that held, hold or were formed for the purpose of holding all dry bulk vessels owned indirectly by Costamare Inc. and (ii) following the spin-off and the completion of the Restructuring Transactions, will also serve as the holding company of CBI, which contains Costamare Inc.’s dry bulk operating platform. Promptly after the spin-off and distribution are complete, we will purchase all of the equity interests in CBI from Costamare Inc. and the CBI Minority Investor. The 38 entities owning dry bulk vessels have been wholly owned subsidiaries of Costamare Inc. for the period from June 9, 2021, or since they were incorporated, as the case may be, to December 31, 2024 and CBI has commenced operations and has been majority owned by Costamare Inc. for the period from December 8, 2022 to December 31, 2024, and as such are under common control of Costamare Inc. for the mentioned period. As a result, financial statements have been prepared on a predecessor combined carve-out basis which include CBI, the subsidiaries of Costamare Inc. that held, hold or were formed for the purpose of holding the owned dry bulk vessels and Costamare Bulkers Ships. Our fiscal year end is December 31, and our fiscal quarters end on March 31, June 30, September 30 and December 31. Our predecessor combined carve-out financial statements have been derived from the consolidated financial statements and accounting records of Costamare Inc. as if its dry bulk related businesses operated on its own during the period presented and were prepared in accordance with U.S. GAAP. In connection with the spin-off, we will enter into a Separation and Distribution Agreement with Costamare Inc. The Separation and Distribution Agreement will provide for the implementation of the Restructuring Transactions and the separation of the assets, liabilities and obligations of Costamare Inc. and its subsidiaries that hold its dry bulk related businesses and are attributable to periods prior to, at and after the separation. The preparation of predecessor combined carve-out financial statements requires management to make certain estimates and assumptions, either at the balance sheet date or during the period that affects the reported amounts of assets and