Company: CTRM
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001140361-25-018945
Chunk: 12

Company: Castor Maritime Inc.
Filing Date: 2025-05-14
Form: 20-F
Item: Item 10
Chunk 12
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Item 10. Additional Information— A. Memorandum and Articles of Association— Description of Series D Preferred Shares

” for a full description of the
dividend rate and periods of the Series D Preferred Shares.

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The rights of the holders of our Series D Preferred Shares rank senior to the obligations to holders of our common shares. This means that, unless accumulated dividends have
been paid or set aside for payment on all of our outstanding Series D Preferred Shares for all past completed dividend periods, no distributions may be declared or paid on our common shares subject to limited exceptions. Likewise, in the event of
our voluntary or involuntary liquidation, dissolution or winding-up, no distribution of our assets may be made to holders of our common shares until we have paid to holders of our Series D Preferred Shares a liquidation preference equal to $1,000
per share plus accumulated and unpaid dividends.

In addition, our Series D Preferred Shares are convertible, in whole or in part, at their holder’s option, to common shares at any time and from time to time from and including
January 1, 2026 and at any time thereafter. The conversion of our Series D Preferred Shares could result in significant dilution to our shareholders at the time of conversion. See also “ - Risks Relating to our
Common Shares - Past share issuances and future issuances of common shares or other equity securities, or the potential for such issuances, may impact the price of our common shares and could impair our ability to raise capital through subsequent
equity offerings, to the extent available and permitted. Shareholders may experience significant dilution as a result of any such issuances. ”

Accordingly, the existence of the Series D Preferred Shares and the ability of a holder to convert the Series D Preferred Shares into common shares on or after January 1, 2026
could have a material adverse effect on the value of our common shares. See “Item 10. Additional Information - B. Memorandum and Articles of Incorporation - Description of the Series D Preferred Shares” for a
more detailed description of the Series D Preferred Shares.