Euroseas is closing the year with a shares issue that could see the company raise as much as $10m.
Maxim Group will act as sales agent in the transaction, which marks the first money raising attempt for Euroseas in 2016.
The last time the company completed a rights offering was in September 2015, when it raised gross proceeds of $10.55.
Shares in Euroseas were down nearly 6% at early trading hours today, at $1.97 each.
Euroseas has been active lately and has acquired three ships in less than a month.
As TradeWinds reported yesterday, the Aristides Pittas-led company settled its dispute with Dayang shipyard by acquiring one ultramax bulker for deposits already paid.
