Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 90

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 90
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 our common shares, trading of our common shares will begin on a “when-issued” basis on the NYSE and such trading would continue up to, but not including the distribution date. However, there can be no assurance that an active trading market for our common shares on either the NYSE or any other exchange will develop. If an active and liquid trading market does not develop, relatively small sales of our common shares could have a significant negative impact on the price of our common shares.**

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Following the spin-off, the aggregate trading value of Costamare Bulkers Holdings and Costamare Inc. common shares may be less than the trading value of Costamare Inc.’s common shares before the spin-off. The spin-off will result in a “pure-play” dry bulk shipping company. Following the spin-off and the completion of the Restructuring Transactions, Costamare Inc. will own only containerships and its leasing business under NML, and Costamare Bulkers Holdings will own only dry bulk vessels and the dry bulk operating platform under CBI. The Costamare Inc. shares will continue to be listed and traded on the NYSE. Our shares will be traded under the symbol “CMDB” on the NYSE. As a result of the spin-off, Costamare Inc. expects the trading prices of Costamare Inc. shares in the “regular-way” market at market open on , 2025 to be lower than the trading prices in the “regular-way” at market close on , 2025, because the trading prices will no longer reflect the value of Costamare Inc.’s dry bulk related businesses. There can be no assurance that the aggregate market value of the Costamare Inc. shares and our shares following the consummation of the spin-off will be higher than or equal to the market value of the Costamare Inc. shares if the spin-off did not occur. This means, for example, that the combined trading prices of one Costamare Inc. share and of our shares after market open on , 2025 may be equal to, greater than or less than the trading price of one Costamare Inc. share before , 2025. In addition, your Costamare Inc. shares sold in the “ex-distribution” market (as opposed to the “regular-way” market) will reflect an ownership interest solely in Costamare Inc. and will not include the right to receive