Report of Foreign Issuer (6-k)
July 14 2015 - 9:06AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2015
Commission File Number: 000-51672
FREESEAS INC.
(Name of Registrant)
10, Eleftheriou Venizelou Street (Panepistimiou
Ave.), 106 71, Athens, Greece
(Address of principal
executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F. Form
20-F x Form 40-F ¨
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
On
July 13, 2015, FreeSeas Inc. (the “Company”) received notification from The NASDAQ Stock Market (“NASDAQ”)
that it has regained compliance with the NASDAQ Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule") requirement for
continued listing on NASDAQ, as the bid price of the Company’s common stock closed at or above $1.00 per share for a minimum
of 10 consecutive business days.
The
Company previously received notice from NASDAQ that it was not in compliance with the Minimum Bid Price Rule for continued listing
on NASDAQ, as the bid price of the Company's common stock closed below the minimum $1.00 per share for the 30 consecutive business
days.
The
letter from NASDAQ, received on July 13, 2015 stated that the Company’s common stock closed at or above $1.00 per share for
a minimum of 10 consecutive business days (from June 26, 2015 to July 10, 2015). Accordingly, the Company has regained compliance
with the Minimum Bid Price Rule and this matter is now closed.
On July 14, 2015, the
Company issued the press release announcing the receipt of notification from NASDAQ that the Company is in compliance with the
Minimum Bid Price Rule. A copy of the press release that discusses this matter is filed as Exhibit 99.1 to, and incorporated by
reference in, this report.
The following exhibit
is filed herewith:
Exhibit
Number |
Description |
|
|
99.1 |
Press Release, issued by FreeSeas Inc. on July 14, 2015 |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
FREESEAS INC. |
|
|
Date: July 14, 2015 |
By: /s/ DIMITRIS PAPADOPOULOS |
|
Dimitris Papadopoulos |
|
Chief Financial Officer |
Exhibit 99.1
FreeSeas announces Compliance with
NASDAQ Bid Price Listing Rule
Athens, Greece, July 14, 2015 -- FreeSeas
Inc. (Nasdaq: FREE) (“FreeSeas” or the “Company”), a transporter of dry-bulk cargoes through the ownership
and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers,
announced today that on July 13, 2015, NASDAQ
notified the Company that it had regained compliance with Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00
for continued listing on the NASDAQ Stock Market and that the matter is now closed.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation
with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and
operation of drybulk carriers and also is an owner of a controlling stake in a company commercially operating tankers. Currently,
it has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq Capital Market under the symbol FREE. Risks and
uncertainties are described in reports filed by FreeSeas Inc. with the SEC, which can be obtained free of charge on the SEC's website
at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate
website, www.freeseas.gr.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy. Words
such as ''expects,'' ''intends,'' ''plans,'' ''believes,'' ''anticipates,'' ''hopes,'' ''estimates,'' and variations of such words
and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be
correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are
inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual
results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to, changes in the demand for dry bulk vessels; competitive factors
in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed
from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement
is based.
Contact Information:
At the Company
FreeSeas Inc.
Dimitris Papadopoulos, Chief Financial
Officer
011-30-210-45-28-770
Fax: 011-30-210-429-10-10
dp@freeseas.gr
www.freeseas.gr
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