Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 202

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 202
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 we received from the sale of the dry bulk vessels Manzanillo, Progress, Konstantinos, Merida, Alliance, Pegasus, Adventure, Oracle, Titan Iand Discovery. Net cash used in investing activities was $9.7 million in the year ended December 31, 2023, which mainly consisted of (i) payments for upgrades for certain of our dry bulk vessels, (ii) payments for the acquisition of the secondhand dry bulk vessels Enna, Doradoand Aryaand (iii) an advance payment for the acquisition of the secondhand dry bulk vessel Iron Miracle(“ Miracle”); partly offset by net proceeds we received from the sale of the dry bulk vessels Miner, Taibo, Comity, Peace, Prideand Cetus. Net Cash Provided by Financing Activities Net cash provided by financing activities was $116.9 million in the year ended December 31, 2024, which mainly consisted of (i) net parent contributions of $43.5 million and (ii) net proceeds of $85 million we received

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from related parties loans; partly offset by net payments of $9.5 million relating to our debt financing agreements (including proceeds of $393.0 million we received from four debt financing agreements). Net cash provided by financing activities was $133.3 million in the year ended December 31, 2023, which mainly consisted of (i) $103.8 million share capital increase from CBI’s shareholders and (ii) net parent contributions of $75.4 million; partly offset by net payments of $39.4 million relating to our debt financing agreements (including proceeds of $105.2 million we received from three debt financing agreements). Credit Facilities We operate in a capital-intensive industry, which requires significant amounts of investment, and we intend to fund a portion of this investment through long-term debt, mainly from banks or other financial institutions. In connection with the spin-off, in December 2024 we entered into new credit facilities (the “New Credit Facilities”) secured by 36 of our owned vessels. Our vessel-owning subsidiaries act as direct borrowers under the New Credit Facilities, and, prior to the spin-off, Costamare Inc. acts as a guarantor under the New Credit Facilities. At the effective time of the spin-off, Costamare Bulkers Holdings and Costamare Bulkers Ships will become guarantors under the New Credit Facilities and Costamare Inc. shall be unconditionally released from its obligations