UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Star Bulk Carriers Corp.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
Y8162K105
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(CUSIP Number)
December 31, 2007
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. Y8162K105 13G Page 2 of 6 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Giovine Capital Group LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 5,865,017
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,865,017
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,865,017
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.9%
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12 TYPE OF REPORTING PERSON*
IA
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- 2 -
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CUSIP No. Y8162K105 13G Page 3 of 6 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas A. Giovine
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 5,865,017
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,865,017
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,865,017
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.9%
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12 TYPE OF REPORTING PERSON*
IN
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- 3 -
This Amendment No. 1 to Schedule 13G (this "Amendment No. 1") is filed with
respect to the Common Stock of Star Bulk Carriers Corp., a Marshall Islands
corporation, to amend the Schedule 13G filed on December 28, 2007 (the "Schedule
13G"). Capitalized terms used but not defined herein have the meaning ascribed
thereto in the Schedule 13G.
Item 4: Ownership:
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Item 4 of the Schedule 13G is hereby amended and restated in its entirety
as follows:
As of the close of business on February 1, 2008:
A. Giovine Capital
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(a) Amount beneficially owned: 5,865,017 shares of Common Stock, consisting
of 3,577,117 shares of Common Stock held by the Funds and 2,287,900 shares of
Common Stock issuable upon exercise of Warrants held by the Funds.
(b) Percent of class: 12.9%. The percentages used herein and in the rest of
this Schedule 13G are calculated based upon a total of 45,459,430 shares of
Common Stock issued and outstanding which is the sum of (i) 43,171,530 shares of
Common Stock outstanding as of October 30, 2007, as reported in the Issuer's
Registration of Securities on Form F-4/A filed with the Securities and Exchange
Commission on October 30, 2007, and (ii) 2,287,900 shares of Common Stock that
would be issued to the Reporting Persons on exercise of all Warrants held by
them collectively.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 5,865,017
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 5,865,017
B. Mr. Giovine
-----------
(a) Amount beneficially owned: 5,865,017 shares of Common Stock, consisting
of 3,577,117 shares of Common Stock held by the Funds and 2,287,900 shares of
Common Stock issuable upon exercise of Warrants held by the Funds.
(b) Percent of class: 12.9%.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 5,865,017
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 5,865,017
- 4 -
Item 6: Ownership of More than Five Percent on Behalf of Another
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Person:
------
Item 6 of the Schedule 13G is hereby amended and restated in its entirety
as follows:
One of the Funds controlled by Giovine Capital, Giovine Investment Partners
International Ltd., directly holds on an as-converted basis in excess of 5.0% of
the total outstanding Common Stock of the Company and may thereby have the right
to receive the proceeds from the sale of such Shares.
Other than as set forth herein, no other person is known to have the right
to receive or the power to direct the receipt of dividends from, or proceeds
from the sale of, the securities reported in this Schedule 13G.
- 5 -
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
DATED: February 5, 2008
GIOVINE CAPITAL GROUP LLC
By: /s/ David R. Beach
-----------------------------------
Name: David R. Beach
Title: Chief Operating Officer
/s/ Thomas A. Giovine
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Thomas A. Giovine
[SIGNATURE PAGE TO AMENDMENT NO. 1 SCHEDULE 13G WITH
RESPECT TO STAR BULK CARRIERS CORP.]