Athens, Greece - August 17, 2020
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today the pricing of an underwritten offering of 35,714,286 units. Each unit consists of one commonshare (or pre-funded warrant in lieu of one common share) and one Class E warrant to purchase one common share, and will immediately separate on issuance.
The public offering price of each unit is $0.70 (or $0.69 for a unit including a pre-funded warrant). Gross proceeds before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $25.0million. The offering is expected to close on or about August 20, 2020, subject to customary closing conditions.
The Class E warrants will be immediately exercisable at a price of $0.70 per common share and will expire five years from the date of issuance. A public market for the pre-funded warrants or Class E Warrants is not expected to be established or to develop. Maxim Group LLC is acting as sole book-running managerand representative of the underwriters, and Fearnley Securities is acting as lead manager for the offering.The Company also has granted to the representative of the underwritersa 45-day option to purchase up to an additional 5,357,142 common shares and/or pre-funded warrants and/or Class E warrants to purchase up to 5,357,142 common shares, at the public offering price less discounts and commissions.
Seanergy Maritime Holdings Corp. Announces Public Offering of Common Shares and Warrants
Athens, Greece - August 17, 2020
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today that it has commenced an underwritten public offering of its common sharesand warrants to purchase common shares.
The Company intends to use the net proceeds from this offering for general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed.
Maxim Group LLC is acting as the solebook-running manager and Fearnley Securities is acting as lead manager for the offering.
The securities described above are being offered by Seanergy Maritime Holdings Corp. pursuant to a registration statement (File No. 333-226796) previously filed and declared effective by the Securities and Exchange Commission (SEC). The securities are being offered only by means of a prospectus supplement and accompanying prospectus, forming part of the registration statement.
A preliminary prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Electronic copies of the preliminary prospectus supplement and accompanyingprospectus are also available on the website of the SEC at www.sec.gov. 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 inany state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification 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. Seanergyprovides marine dry bulk transportation services through a fleet of 11 Capesize vessels with an average age ofabout 11.5 years and aggregate cargo carrying capacity of approximately 1,926,117 dwt.The Company is incorporated in the Marshall Islands and has executive offices in Athens, Greece and an officein 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
Seanergy Maritime Corp. press release