Seanergy Maritime Holdings Corp. Announces Pricing of $75 Million Common Share Offering Priced At-The-Market
February 16 2021 - 10:20PM
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.
About Seanergy Maritime Holdings
Corp.
Seanergy Maritime Holdings Corp. is the only
pure-play Capesize ship-owner publicly listed in the US. Seanergy
provides marine dry bulk transportation services through a fleet of
12 Capesize vessels with an average age of about 12.2 years and
aggregate cargo carrying capacity of approximately 2,103,042 dwt.
The Company is incorporated in the Marshall Islands and has
executive offices in Glyfada, Greece. The Company's common shares
trade on the Nasdaq Capital Market under the symbol "SHIP", its
Class A warrants under "SHIPW" and its Class B warrants under
“SHIPZ”.
Please visit our company website at:
www.seanergymaritime.com
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. 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 operating
or financial results; the Company's liquidity, including its
ability to service its indebtedness; 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 the Registration Statement and 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. Daniela Guerrero 230 Park Avenue Suite 1536
New York, NY 10169 Tel: (212) 661-7566 E-mail:
seanergy@capitallink.com
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