Seanergy Maritime Announces Receipt of Nasdaq Notice
February 01 2022 - 5:00PM
Seanergy Maritime Announces Receipt of
Nasdaq Notice
February 1, 2022 – Glyfada, Greece –
Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”)
(NASDAQ: SHIP) announced today that it has received written
notification from The Nasdaq Stock Market (“Nasdaq”) dated January
26, 2022, indicating that because the closing bid price of the
Company’s common stock for 30 consecutive business days, from
December 13, 2021 to January 25, 2022, 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 July 25, 2022.
The Company intends to monitor the closing bid
price of its common stock between now and July 25, 2022 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.
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.
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“For the reasons discussed in recent press
releases, including what we believe to be strong signs of recovery
in the freight market, we reiterate our firm belief that our shares
are currently significantly undervalued. Therefore, we are
optimistic that this will be cured organically within the
prescribed grace period, without the need to effect a reverse stock
split. We last received a Nasdaq notice regarding a bid price
deficiency in September 2020, which was cured in February 2021
without a reverse stock split, through a natural recovery in our
share price.”
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 modern
fleet of Capesize vessels. The Company's operating fleet consists
of 17 Capesize vessels with an average age of 11.7 years and
aggregate cargo carrying capacity of approximately 3,011,083
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” 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; risks
associated with the length and severity of the ongoing novel
coronavirus (COVID-19) outbreak, including its effects on demand
for dry bulk products and the transportation thereof; 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:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com
- 2022-2-1_SHIP_Nasdaq Notice
Seanergy Maritime (NASDAQ:SHIP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Seanergy Maritime (NASDAQ:SHIP)
Historical Stock Chart
From Apr 2023 to Apr 2024