Seanergy Maritime Holdings Corp. Announces Pricing of Upsized $6.0 Million Underwritten Public Offering
01 April 2020 - 12:20AM
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP)
announced today the pricing of an underwritten public offering of
35,290,000 units at a price of $0.17 per unit. Each unit consists
of one common share (or pre-funded warrant in lieu of one common
share) and one Class D warrant to purchase one common share, and
will immediately separate upon issuance. The gross proceeds of the
offering to the Company, before underwriting discounts and
commissions as well as estimated offering expenses, are expected to
be approximately $6.0 million. The Company intends to use the net
proceeds of the offering for general corporate purposes.
Each Class D warrant is immediately exercisable
for one common share at an exercise price of $0.17 per share and
will expire five years from issuance. The offering is expected to
close on or about April 2, 2020, subject to customary closing
conditions.
Maxim Group LLC is acting as sole book-running
manager in connection with the offering.
The Company intends to apply to list the Class D
Warrants on the Nasdaq Capital Market. The Company has also granted
the underwriter a 45-day option to purchase up to an additional
5,293,500 shares of common stock or pre-funded warrants and/or
5,293,500 Class D warrants, at the public offering price, less
discounts and commissions.
The offering is being conducted pursuant to the
Company's registration statement on Form F-1 (File No. 333-237328)
previously filed with and declared effective by the Securities and
Exchange Commission ("SEC") on March 31, 2020 (the “Registration
Statement”). A final prospectus relating to the offering will be
filed with the SEC and will be available on the SEC's website at
http://www.sec.gov. Electronic copies of the prospectus relating to
this offering, when available, may be obtained from Maxim Group
LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212)
895-3745.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of, these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification of these securities under the
securities laws of any such state or jurisdiction.
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 10 Capesize vessels, with a cargo-carrying capacity of
approximately 1,748,581 dwt and an average fleet age of
approximately 11 years. The Company is incorporated in the Marshall
Islands and has executive offices in Athens, Greece and an office
in Hong Kong. The Company's common shares trade on the Nasdaq
Capital Market under the symbol "SHIP", its Class A warrants under
"SHIPW" 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; and
other factors listed from time to time in the Company's filings
with the SEC, including the Registration Statement and 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:
Capital Link, Inc. Judit Csepregi 230 Park
Avenue Suite 1536 New York, NY 10169 Tel: (212) 661-7566 E-mail:
seanergy@capitallink.com
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