Report of Foreign Issuer (6-k)
June 10 2015 - 10:49AM
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 June 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): ¨
FREESEAS INC.
EXHIBITS
Exhibit
Number
|
Description |
99.1 |
Press Release, dated June 10, 2015, issued by FreeSeas Inc. |
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: June 10, 2015 |
By: |
/s/ DIMITRIS PAPADOPOULOS |
|
|
|
Dimitris Papadopoulos |
|
|
|
Chief Financial Officer |
|
Exhibit 99.1
FreeSeas Announces Participation in
a Company Operating Tankers
Athens, Greece, June 10, 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, announced today that it has acquired a 51% controlling stake in the newly formed
Standcorp International Limited (hereafter “Standcorp”). The rest of the shares are owned by non-affiliated entities
associated with the Marvin group of companies, whose extensive experience for over twenty years has focused in the operation and
ownership of tanker vessels.
Standcorp will engage in the commercial
operation of product and crude oil tankers covering a large array of sizes, by contracting them through time charter or bareboat
charter arrangements, and subsequently deploying them in the spot market or in fulfillment of contract cargoes. The company intends
to operate in generic markets but also to focus on a number of niche markets, such as West Africa. In addition, the company shall,
depending on market conditions, commercially operate dry-bulk carriers either chartered-in, acquired, or through services agreements
with affiliated Owners, including FreeSeas Inc. tonnage.
Mr. Ion G. Varouxakis, Chairman, President
and CEO was quoted as saying : “We are excited with our decision to enter this venture which positions the company in new
markets and presents us with new opportunities in cooperation with experienced partners. At a time when the dry-bulk market is
at a standstill, we expect that FreeSeas shall be able to generate income and create value for its shareholders by getting involved
in the tanker sector which offers higher returns on investment, as operators only in the first stage, and gain experience in the
sector.”
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. 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
FreeSeas (CE) (USOTC:FREEF)
Historical Stock Chart
From Apr 2024 to May 2024
FreeSeas (CE) (USOTC:FREEF)
Historical Stock Chart
From May 2023 to May 2024