Seanergy Maritime Holdings Corp. Announces Termination of its “At-The-Market” Equity Offering Program
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“Since August 2016, we have raised approximately $28.3 million of gross proceeds from public equity offerings, including the ATM Offering. We have utilized these funds in the most constructive way as they enabled the Company to pursue highly accretive transactions. In particular, we have used the proceeds of the offerings to partly fund the acquisitions of the M/V Lordship, the M/V Knightship and the M/V Partnership, as well as to finance the prepayments under the early termination of a credit facility. The combined accretion in value we have created for our shareholders from these transactions is more than $27.9 million, which is derived from the market value appreciation of the acquisitions and the expected gain due to the early termination and refinancing of one of our facilities. “We will continue to actively pursue accretive transactions with the aim of further creating value for our shareholders."