Seanergy Maritime Holdings Corp. Announces Pricing of $75 Million Common Share Offering Priced At-The-Market
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to purchase approximately 44,150,000 of its common shares (the “Common Shares”) at a price of $1.70 per share, for aggregate gross proceeds of approximately $75.0 million, in a registered direct offering priced at-the-market under Nasdaq rules.
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“The pricing of our offering will underpin our strategic aims of sustainable fleet growth and continued balance sheet deleveraging. The proceeds of this highly accretive transaction shall further enhance our liquidity allowing us to pursue potential additional acquisitions at what we believe to be favorable timing in the market cycle.
We strongly believe that our segment represents the best fundamentals in the dry bulk industry and Seanergy is in a strong position to capture the rising market momentum.”
Maxim Group LLC is acting as sole placement agent for the offering.
The registered direct offering is expected to close on or about February 19, 2021, subject to the satisfaction of customary closing conditions.
The Company has filed a registration statement on Form F-3 (File No. 333-226796) (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained for free at the SEC’s website at www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.
Source: Seanergy Maritime Holdings Corp.