Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 144

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 5
Chunk 144
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 certain conditions. As of February 12, 2025, we have invested an aggregate of $203.4 million and have extended unsecured loans to Costamare Bulkers in the amount of $85 million. See “Item 4. Information on the Company—A. History and Development of the Company”.
 
On March 16, 2023, we announced our investment in a leasing business. In connection with the investment, we agreed to invest up to $200 million in the new line of business as provided for in the Neptune Shareholders’ Agreement. As of February 12, 2025, we have invested an aggregate of $123.3 million. See “Item 4. Information on the Company—A. History and Development of the Company”.
 
As of December 31, 2024, we had total cash liquidity of $777.9 million, consisting of cash, cash equivalents and restricted cash.
 
As of February 12, 2025, we had three series of preferred stock outstanding, approximately $49.3 million aggregate liquidation preference of the Series B Preferred Stock, approximately $99.3 million aggregate liquidation preference of the Series C Preferred Stock and approximately $99.7 million aggregate liquidation preference of the Series D Preferred Stock. The Series B Preferred Stock carry an annual dividend rate of 7.625% per $25.00 of liquidation preference per share and are redeemable by us at any time. The Series C Preferred Stock carry an annual dividend rate of 8.50% per $25.00 of liquidation preference per share and are redeemable by us at any time. The Series D Preferred Stock carry an annual dividend rate of 8.75% per $25.00 of liquidation preference per share and are redeemable by us at any time. The Company completed the full redemption of all of its 4,574,100 outstanding shares of Series E Preferred Stock on July 15, 2024. The Company funded the redemption with cash on hand.
 
As of December 31, 2024, we had an aggregate of $2.1 billion of indebtedness outstanding under various credit agreements, including our finance leases and other financing arrangements.
 
As of February 12, 2025, we had seven unencumbered vessels in the water.
 
Our common stock dividend policy and our preferred stock dividend obligations also impact our future liquidity needs. For more information regarding our dividend payments, please see “Item 8.