GK Investor LLC Amends Genco Shipping Stake

TL;DR

GK Investor LLC updated its Genco Shipping filing, watch for changes in ownership.

AI Summary

On May 20, 2024, GK Investor LLC, associated with Kleanthis Costa Spathias, filed an amendment to its Schedule 13D regarding Genco Shipping & Trading Limited. This filing indicates a change in beneficial ownership, though specific new holdings or percentage changes are not detailed in this excerpt. The filing is an amendment, suggesting ongoing activity or adjustments to previously reported positions.

Why It Matters

This amendment signals potential shifts in major shareholder influence or strategy for Genco Shipping & Trading Limited, which could impact its stock performance and corporate direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's stake, which can lead to increased volatility and strategic shifts for the company.

Key Players & Entities

• GK Investor LLC (company) — Filing entity
• Kleanthis Costa Spathias (person) — Associated with GK Investor LLC
• Genco Shipping & Trading Limited (company) — Subject company
• GEORGE ECONOMOU (person) — Group member
• MARYPORT NAVIGATION CORP. (company) — Group member
• SPHINX INVESTMENT CORP. (company) — Group member

FAQ

Key Financial Figures

• $0.01 — e of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• tm2414919d1_sc13da.htm (SC 13D/A) — 74KB
• tm2414919d1_ex99-2.htm (EX-99.2) — 36KB
• 0001104659-24-063185.txt ( ) — 112KB

of the Initial 13D is

Item 4 of the Initial 13D is hereby supplemented by adding the following paragraph to the end thereof: “On May 16, 2024, GK Investor announced the withdrawal of its nomination of Mr. Robert M. Pons as a candidate for election to the Board, and of the By-Law Repeal Proposal. GK Investor (i) no longer intends to nominate any candidates for election to the Board, or to make any other proposals, at the 2024 Annual Meeting, (ii) has withdrawn its prior Notice (including all supplements thereto) delivered to the Issuer in respect of the 2024 Annual Meeting, as well as the nominations and proposals made therein and (iii) no longer intends to solicit any proxies in respect of the 2024 Annual Meeting or vote any third party’s proxies at the 2024 Annual Meeting.” Item 5. Interest in Securities of the Issuer.

of the Initial 13D is hereby amended and restated

Item 5 of the Initial 13D is hereby amended and restated as set forth below: “(a), (b) The Reporting Persons each may be deemed to beneficially own all of the 2,339,084 Common Shares (the “ Subject Shares ”) reported herein, which represent approximately 5.5% of Issuer’s outstanding Common Shares, based on the 42,751,752 Common Shares GK Investor has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 2,339,084 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 584,749 Common Shares. Sphinx has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 2,339,084 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 584,749 Common Shares. Maryport has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 2,339,084 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 584,749 Common Shares. Mr. Economou has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 2,339,084 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 584,749 Common Shares. As of March 28, 2024, the record date for the Issuer’s 2024 Annual Meeting, each of the Reporting Persons had the shared power to vote 2,339,084 Common Shares at such meeting (representing approximately 5.5% of the Common Shares issued and outstanding as of s

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: May 20, 2024 GK Investor LLC By: Sphinx Investment Corp., its Manager By: K leanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 20, 2024 SPHINX INVESTMENT CORP. By: Levante Services Limited By: K leanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 20, 2024 MARYPORT NAVIGATION CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 20, 2024 GEORGE ECONOMOU By: /s/ George Economou George Economou

View Full Filing

View this SC 13D/A filing on SEC EDGAR