Seanergy Maritime Announces Receipt of Nasdaq Notice
August 01 2022 - 5:25PM
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 August
1, 2022, indicating that because the closing bid price of the
Company’s common stock for 30 consecutive business days, from June
16, 2022 to July 29, 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
January 30, 2023.
The Company intends to monitor the closing bid
price of its common stock between now and January 30, 2023 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 a minimum of 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.
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 approximately 12
years and aggregate cargo carrying capacity of approximately
3,020,012 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”.
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 impact of
regulatory requirements or other factors on the Company’s ability
to consummate the proposed spin-off; 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; broader
market impacts arising from war (or threatened war) or
international hostilities, such as between Russia and Ukraine;
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 1540 New York, NY 10169 Tel: (212) 661-7566 E-mail:
seanergy@capitallink.com
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