Maxim Group Completes Secondary Offering for Seanergy Maritime Holdings Corp.
January 29 2010 - 12:37PM
Marketwired
Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP)
(NASDAQ: SHIPW) today announced that it has priced its public
offering of 20,833,333 shares of common stock. The Company has
granted the representatives of the underwriters a 45-day option to
purchase up to an additional 3,125,000 shares of common stock to
cover over-allotments. The shares were offered to the public at
$1.20 per share. Four of the Company's major shareholders
affiliated with the Restis Group have committed to purchase an
additional 4,166,667 shares of common stock directly from the
Company at the public offering price. The offering is expected to
settle and close on February 3, 2010, subject to customary closing
conditions. Net proceeds from the offering are expected to be used
in conjunction with cash from operations and financing to be
obtained from the Company's bank to purchase a new vessel.
Maxim Group LLC and Rodman & Renshaw, LLC, a subsidiary of
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), acted as
the joint book-running managers and Chardan Capital Markets, LLC
acted as co-manager for the offering. The offering will be made
only by means of a prospectus, copies of which may be obtained from
Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, or by
calling 800-724-0761 or Rodman & Renshaw, LLC, 1251 Avenue of
the Americas, New York, NY 10020, or by calling 212-430-1710.
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 such expectations will prove to have been
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, the scope and
timing of SEC and other regulatory agency review, 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's filings can be
obtained free of charge on the SEC's website at www.sec.gov. 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.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp., the successor to Seanergy
Maritime Corp., is a Marshall Islands corporation with its
executive offices in Athens, Greece. The Company is engaged in the
transportation of dry bulk cargoes through the ownership and
operation of dry bulk carriers. The Company's common stock and
warrants trade on the NASDAQ Global Market under the symbols SHIP
and SHIP.W, respectively.
About Maxim Group LLC
Maxim Group LLC is a full-service investment banking firm
headquartered in New York. Maxim Group provides a full array of
financial services including investment banking; private wealth
management; and global institutional equity, fixed-income and
derivatives sales and trading as well as equity research. Maxim
Group currently manages in excess of $5 billion in client assets.
The investment banking group focuses on middle market and emerging
growth companies within the shipping, energy, health care,
technology, retail, and business and financial services sectors.
The institutional coverage of Maxim Group spans North and South
America, Europe and Asia. Maxim Group LLC is a registered as a
broker-dealer with the U.S. Securities and Exchange Commission and
is a member of the following: Financial Industry Regulatory
Authority (FINRA); Municipal Securities Rulemaking Board (MSRB);
Securities Insurance Protection Corporation (SIPC); International
Securities Exchange (ISE); NASDAQ Stock Market and the NYSE Arca,
Inc. To learn more about Maxim Group, visit www.maximgrp.com.
For further information please contact: Investment Banking
Clifford A. Teller Director of Investment Banking 212.895.3773
cteller@maximgrp.com Capital Markets Christopher J. Fiore President
Head of Capital Markets 212.895.3743 cfiore@maximgrp.com Paul G.
LaRosa Senior Managing Director 212.895.3695 plarosa@maximgrp.com
Jeff Sklar Managing Director Institutional Equity Sales &
Trading 212.895.3780 jsklar@maximgrp.com Wealth Management John J.
Garrity Executive Managing Director 212.895.3624
jgarrity@maximgrp.com
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