Seanergy Maritime (SHIP) Prices 44.15M Share Common Offering at $1.70/Sh

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced today that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to purchase approximately 44,150,000 of its common shares (the “Common Shares”) at a price of $1.70 per share, for aggregate gross proceeds of approximately $75.0 million, in a registered direct offering priced at-the-market under Nasdaq rules.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“The pricing of our offering will underpin our strategic aims of sustainable fleet growth and continued balance sheet deleveraging. The proceeds of this highly accretive transaction shall further enhance our liquidity allowing us to pursue potential additional acquisitions at what we believe to be favorable timing in the market cycle.

We strongly believe that our segment represents the best fundamentals in the dry bulk industry and Seanergy is in a strong position to capture the rising market momentum.”

Maxim Group LLC is acting as sole placement agent for the offering.

The registered direct offering is expected to close on or about February 19, 2021, subject to the satisfaction of customary closing conditions.

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