Company: CMDB
Filing Date: 2025-03-07
Form Type: DRSLTR
Source: 0000950157-25-000202
Chunk: 1

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-07
Form: DRSLTR
Chunk 1
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 comment 5. Response: In response to the Staff’s comments, we will include the audited consolidated financial statements for the Company in our next submission of the draft registration statement on Form 20-F.

| 2. | We note your disclosure on page 42 stating “Currently Costamare Bulkers Holdings holds all of the equity interests in Costamare Inc.’s subsidiaries that held, hold or were formed for the purpose of holding the                             
 owned dry bulk vessels and any related assets and liabilities through our wholly owned subsidiary, Costamare Bulkers Ships.” Tell us how your response to prior comment 5, characterizing Costamare Bulkers Holdings Ltd. as a shell company, 
 reconciles with this disclosure.                                                                                                                                                                                                              |

| Please also explain to us how the formation date and your characterization of the entity as a shell company reconcile with disclosures on pages 31 and F-39 of the Costamare Inc. 2023 third quarter, and 2022 
 annual reports, in which Costamare Bulkers Holdings Limited is identified as the parent of Costamare Bulkers Inc. beginning in 2022.                                                                           |

| Response: |

| The Shipowning Subsidiaries are comprised of 67 companies currently owned by CMRE, out of which 37 companies own or have agreed to acquire dry bulk vessels, 15 companies have previously owned and sold 
 or have agreed to sell their dry bulk vessels and 15 companies are to be used for future dry bulk vessel acquisitions, as discussed on page F-8.                                                         |

The Company was incorporated under the laws of the Republic of the Marshall Islands on September 29, 2023. No activity was undertaken by the Company from the date of its incorporation until July 11, 2024. On July 11, 2024, an organizational meeting was conducted for the Company via written consent and CMRE subscribed for and was issued 10,000 shares of the capital stock of the Company at a price of $0.0001 per share, making CMRE the sole shareholder of the Company. CBSI was incorporated under the laws of the Republic of the Marshall Islands on July 11, 2024. On July 15, 2024, the Company subscribed for and was issued one share of the capital stock of CBSI at a price of $1.00 per share, making the Company the sole shareholder of CBSI. As discussed above, prior to the consummation of the spin-off, the Shipowning Sub