Costamare Inc. Announces Pricing of its Public Offering of Common Stock
17 October 2012 - 12:04AM
Business Wire
Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that
its offering of 7,000,000 shares of its common stock was priced at
$14.00 per share. The gross proceeds from the offering before the
underwriting discount and other offering expenses are expected to
be $98,000,000. Members of the Konstantakopoulos family, who in the
aggregate own a majority of the common stock of the Company, have
agreed to purchase 700,000 shares in the offering. The Company has
also granted the underwriters a 30-day option to purchase up to an
additional 1,050,000 shares of its common stock.
The Company plans to use the net proceeds of the offering for
capital expenditures, including vessel acquisitions, and for other
general corporate purposes, which may include repayments of
indebtedness.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are
acting as joint book-running managers of the offering, which is
being made under an effective shelf registration statement.
The offering is expected to close on or about October 19,
2012.
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. A preliminary
prospectus supplement and accompanying base prospectus relating to
the offering has been filed with the Securities and Exchange
Commission (“SEC”) and is available at the SEC’s website at
http://www.sec.gov. When available, the final prospectus supplement
and accompanying base prospectus relating to the offering may be
obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, NY 10014, Attn: Prospectus Department, email:
prospectus@morganstanley.com, or Goldman, Sachs & Co., 200 West
Street, New York, NY 10282, telephone: (866) 471-2526 or email:
prospectus-ny@ny.email.gs.com.
This release does 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 jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Costamare Inc.
Costamare Inc. is one of the world’s leading owners and
providers of containerships for charter. The Company has 37 years
of history in the international shipping industry and a fleet of 57
containerships, with a total capacity of approximately 329,000 TEU,
including 10 newbuilds on order. The Company’s common shares trade
on the New York Stock Exchange under the symbol “CMRE.”
Forward-Looking Statements
This press release contains “forward-looking statements.” In
some cases, you can identify these statements by forward-looking
words such as “believe”, “intend”, “anticipate”, “estimate”,
“project”, “forecast”, “plan”, “potential”, “may”, “should”,
“could” and “expect” and similar expressions. These statements are
not historical facts but instead represent only the Company’s
belief regarding future results, many of which, by their nature,
are inherently uncertain and outside of the Company’s control. It
is possible that actual results may differ, possibly materially,
from those anticipated in these forward-looking statements. For a
discussion of some of the risks and important factors that could
affect future results, see the discussion in the Company’s Annual
Report on Form 20-F (File No. 001-34934) under the caption “Risk
Factors.”
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