Castor Maritime announces that on December 21, 2023, the Company entered into an agreement with an entity beneficially owned by a family member of our Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Venus, a 2010-built Kamsarmax bulk carrier vessel, for a price of $17.5 million. The terms of the transaction were negotiated and approved by a special committee of our disinterested and independent directors. The vessel is expected to be delivered to its new owner by the end of the first quarter of 2024. The Company expects to record during the first quarter of 2024 a net gain of approximately $3.5 million from the sale of the M/V Magic Venus, excluding any transaction related costs.
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