Report of Foreign Issuer (6-k)
January 14 2015 - 10:26AM
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 January 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 January 14, 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: January 14, 2015 |
By: |
/s/ DIMITRIS PAPADOPOULOS |
|
|
Dimitris Papadopoulos |
|
|
Chief Financial Officer |
|
Exhibit 99.1
FreeSeas
has been provided a second grace period of 180 days BY NASDAQ to comply with the minimum bid price requirement.
Athens, Greece, January 14, 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 and Handymax vessels announced that on January 13, 2015, received a letter from NASDAQ notifying
the Company that it has been provided an additional 180 calendar day period, or until July 13, 2015, to regain compliance with
the minimum $1 bid price per share requirement. The Company’s eligibility for the additional period was based on meeting
the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing
on the NASDAQ Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention
to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If at any time during
this additional time period the closing bid price of the Company’s common stock is at least $1 per share for a minimum of
10 consecutive business days, NASDAQ will provide written confirmation of compliance and this matter will be closed. If compliance
cannot be demonstrated by July 13, 2015, NASDAQ will provide written notification that the Company’s common stock will be
delisted. At that time, the Company may appeal NASDAQ’s determination to a Hearings Panel (the “Panel”). If the
Company appeals, it will be asked to provide a plan to regain compliance to the Panel.
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 and Handymax 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 U.S.
Securities and Exchange Commission, 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 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
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