Seanergy Maritime Holdings Corp. Announces Receipt of Nasdaq Notice
May 02 2018 - 9:12AM
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ:SHIP)
announced that it has received written notification from The Nasdaq
Stock Market (“Nasdaq”) dated April 23, 2018, indicating that
because the closing bid price of the Company’s common stock for 30
consecutive business days, from March 8, 2018 to April 20, 2018,
was below the minimum $1.00 per share bid price requirement for
continued listing on the Nasdaq Capital Market, the Company is not
in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to the
Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to
regain compliance is 180 days, or until October 22, 2018.
The Company intends to monitor the closing bid
price of its common stock between now and October 22, 2018 and is
considering its options, in order to regain compliance with the
Nasdaq Capital Market minimum bid price requirement. The Company
can cure this deficiency if the closing bid price of its common
stock is $1.00 per share or higher for at least ten consecutive
business days during the grace period. In the event the Company
does not regain compliance within the 180-day grace period and it
meets all other listing standards and requirements, the Company may
be eligible for an additional 180-day grace period.
The Company intends to cure the deficiency
within the prescribed grace period. During this time, the Company's
common stock will continue to be listed and trade on the Nasdaq
Capital Market. The Company's business operations are not affected
by the receipt of the notification.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is an
international shipping company that provides marine dry bulk
transportation services through the ownership and operation of dry
bulk vessels. The Company currently owns a modern fleet of eleven
dry bulk carriers, consisting of nine Capesizes and two Supramaxes,
with a combined cargo-carrying capacity of approximately 1,682,582
dwt and an average fleet age of about 8.9 years.
The Company is incorporated in the Marshall
Islands with executive offices in Athens, Greece and an office in
Hong Kong. The Company's common shares and class A warrants trade
on the Nasdaq Capital Market under the symbols "SHIP" and "SHIPW",
respectively.
Please visit the Company’s website
at: www.seanergymaritime.com
Forward-Looking StatementsThis
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. Words such as "may", "should", "expects", "intends",
"plans", "believes", "anticipates", "hopes", "estimates" and
variations of such words and similar expressions are intended to
identify forward-looking statements. 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, the Company's ability to continue
as a going concern; the Company's operating or financial results;
the Company's liquidity, including its ability to pay amounts that
it owes and obtain additional financing in the future to fund
capital expenditures, acquisitions and other general corporate
activities; competitive factors in the market in which the Company
operates; shipping industry trends, including charter rates, vessel
values and factors affecting vessel supply and demand; future,
pending or recent acquisitions and dispositions, business strategy,
areas of possible expansion or contraction, and expected capital
spending or operating expenses; risks associated with operations
outside the United States; and other factors listed from time to
time in the Company's filings with the SEC, including its most
recent annual report on Form 20-F. The Company's filings can be
obtained free of charge on the SEC's website at www.sec.gov. Except
to the extent required by law, the Company expressly disclaims any
obligations 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.
For further information please
contact:Capital Link, Inc.Paul Lampoutis230 Park Avenue
Suite 1536New York, NY 10169Tel: (212) 661-7566E-mail:
seanergy@capitallink.com
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