Athens-based Seanergy Maritime Holdings is trying to get another share issue away, three months after signalling a pause in fundraising activities.
The Nasdaq-listed company said it was launching an underwritten offering of 35.7m units consisting of a common share and a warrant to buy another.
They are priced at $0.70 each, against a trading price of $1.17 for its stock alone on Tuesday.
Proceeds are expected to be $25m.
The cash will be used for general corporate purposes, it said.
In May, the company said it had decided to back off the capital markets for now, having sold about $30m in shares since late March.
The Stamatis Tsantanis-led owner of 10 capesizes last raised $5.2m in early May by selling 43.4m common shares after putting together $5.15m off 43m a few days earlier.
Busy adding cash
Seanergy began the fundraiser by selling $6m in common shares on 31 March and then $6.75m in units on 9 April.
It then sold $899,895 in over-allotment shares to underwriters five days later off the 31 March offer and offloaded $6.09m in common shares six days later.
Seanergy had sold almost 228m shares over a five-week period to raise $30.1m in capital.
It used some of the cash to buy an unnamed 2005-built, 177,536-dwt bulker from Asian sellers for for $11.4m in cash in July.
Seanergy did not name the vessel, but it looked to be the K Line-operated Cape Baltic, which was reported sold by Singapore's Celeste Holding to unknown Indonesian interests in mid-May for $10.5m.
