Blank check company swoops on five Wehr Capes

Vessels include 2011-built MV Tom Selmer

APRIL 26, 2017 — Hunter Maritime Acquisition Corp. (Nasdaq: HUNT), a blank check company formed last year by Belgium’s Saverys family , has entered into definitive agreements pursuant to purchase, for an aggregate $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated with one or more members of the Oskar Wehr group of companies of Hamburg, Germany.

Hunter Maritime Acquisition’s Chairman Marc Saverys is the principal shareholder of oil tanker operator Euronav (EURN).

The vessels were built by Chinese shipyard New Times Shipbuilding Co. Ltd. and consist of MV Charlotte Selmer (2011), MV Greta Selmer (2011), MV Tom Selmer (2011), MV Lene Selmer (2010) and MV Hugo Selmer (2010). They have a combined cargo-carrying capacity of approximately 876,352 deadweight tons and an average fleet age of approximately 6.2 years.

Four of the vessels are employed on time charter, expiring as early as July 2017, August 2017, December 2017 and February 2018, respectively.

As part of the acquisition, the Hunter Maritime expects to have the time charter agreements or other employment arrangements in place when the deal finalizes novated to it or otherwise assumed by it.

It is intended that Ambra Shipmanagement Ltd., a company affiliated with the Oskar Wehr Group, will continue to provide technical management services for the vessels while Bocimar International NV, an affiliate of Hunter Maritime, will provide commercial management services for the Vessels.

In connection with the acquisition, Hunter Maritime intends to offer to purchase up to 8,233,100 of its Class A common shares, par value $0.0001 per share, that were sold in the company’s initial public offering, at a purchase price of $10.00 per share,