Seanergy Maritime Holdings has placed a price tag on its latest public offering, aiming for as much as $15m.
The Greek bulker owner is tendering 10,000,000 common shares and class A warrants at a combined price of $1.50 each.
Seanergy added net proceeds from the offering would be around $13.38m, after deducting underwriting discounts and expenses.
This is the first time since 2010 that the company has tried to raise money through a public stock tender.
Seanergy will use net proceeds for both loan repayments and new vessel acquisitions.
The company’s share price steeply declined by 45% yesterday and closed the day at $1.20.
Seanergy reported a third quarter loss of $5.9m, against red ink of $1m a year earlier.
It came on revenue of $8.6m, which was higher than the $2.6m of last year.
