Globus Maritime (GLBS) Registration filing summary

Company overview and business model

• Integrated dry-bulk operator transporting iron ore, coal, grain, steel products, cement, alumina and other cargoes worldwide; vessels are owned or finance-leased through wholly owned subsidiaries.

• Fleet at September 30, 2026: 10 vessels, comprising six Kamsarmaxes and four geared Ultramaxes; total capacity 744,622 dwt and weighted average age 8.1 years.

• Vessels operate in the spot market or on charters under 12 months; long-term strategy targets a mix of spot, long-term and index-linked employment to balance rate upside and cash-flow stability.

• Growth strategy calls for selective modern-vessel acquisitions or newbuilds, alongside potential divestitures to modernize the fleet; the 64,000-dwt GLBS Olympia was delivered in September 2026.

• Globus Shipmanagement Corp. provides in-house commercial and technical vessel management, including crewing, supply and maintenance.

Financial performance and metrics

• Capitalization as of June 30, 2026: actual debt $106.267 million and total capitalization $287.389 million; as adjusted through October 1, debt $130.741 million and capitalization $311.863 million.

• As-adjusted capitalization included $2.126 million of scheduled debt repayments and a $26.6 million draw under a sale-and-bareboat-back arrangement between June 30 and October 1, 2026.

• As of June 30, 2026, shareholders’ equity was $181.122 million, including share premium of $285.742 million and accumulated deficit of $104.706 million.

• A 64,000-dwt newbuild had total consideration of $37.8 million, intended to be funded with debt and equity; four $3.76 million installments were paid from August 2023 through August 2026.

Use of proceeds and capital allocation

• The selling shareholder receives all net proceeds from resales; the issuer receives no proceeds and bears registration costs, while the seller pays its brokerage, underwriting and disposal expenses.

• Fleet capital allocation targets selective vessel acquisitions or construction expected to generate attractive returns on equity and be accretive to earnings and cash flow at anticipated purchase-time rates.