Seanergy Maritime Holdings Corp. Announces Pricing of Upsized $6.0 Million Underwritten Public Offering

Seanergy Maritime Holdings Corp. announced the pricing of an underwritten public offering of 35,290,000 units at a price of $0.17 per unit. Each unit consists of one common share (or pre-funded warrant in lieu of one common share) and one Class D warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions as well as estimated offering expenses, are expected to be approximately $6.0 million. The Company intends to use the net proceeds of the offering for general corporate purposes.

Each Class D warrant is immediately exercisable for one common share at an exercise price of $0.17 per share and will expire five years from issuance. The offering is expected to close on or about April 2, 2020, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager in connection with the offering.

The Company intends to apply to list the Class D Warrants on the Nasdaq Capital Market. The Company has also granted the underwriter a 45-day option to purchase up to an additional 5,293,500 shares of common stock or pre-funded warrants and/or 5,293,500 Class D warrants, at the public offering price, less discounts and commissions.
Source: Seanergy Maritime Holdings Corp.