Castor Maritime Inc. Announces Pricing of $18.0 Million Registered Direct Offering
Castor Maritime Inc. announces today that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to issue approximately 94.8 million of its common shares and warrants to purchase up to an aggregate of 94.8 million common shares at a purchase price of $0.19 per common share and accompanying warrant in a registered direct offering. The warrants will have an exercise price of $0.19 per share, are exercisable immediately and will expire five years following the date of issuance.
Maxim Group LLC is acting as sole placement agent for the offering.
The gross proceeds to the Company from the offering are estimated to be approximately $18.0 million before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or around January 5, 2021, subject to the satisfaction of customary closing conditions.
The securities described above are being sold pursuant to the shelf registration statement on Form F-3 (File No. 333-232052), previously filed with the Securities and Exchange Commission (the “SEC”) on June 10, 2019 and declared effective on June 21, 2019. Such securities are being offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC’s website at www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.
Top Ships Inc. Announces Pricing of $15.9 Million Common Shares Registered Direct Offering
TOP Ships Inc. announced yesterday that it has entered into a placement agency agreement with Maxim Group LLC relating to the sale of the Company’s common shares (the “Placement Agency Agreement”). Pursuant to the Placement Agency Agreement, the Company entered into a securities purchase agreement with certain institutional investors in connection with a registered direct offering of an aggregate of 158,640,000 common shares at a public offering price of $0.10 per share (the “Registered Offering”). The aggregate gross proceeds of the Registered Offering is $15.9 million. The Registered Offering is expected to close on or about July 9, 2020, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is the sole placement agent in connection with the offering.
The common shares are being offered pursuant to a shelf registration statement on Form F-3 (File No. 333-234281) previously filed and declared effective by the United States Securities and Exchange Commission (“SEC”). A prospectus supplement relating to the offering will be filed by the Company with the SEC. When filed, copies of the prospectus supplement, together with the accompanying base prospectus, can be obtained at the SEC’s website at http://www.sec.gov or from the offices of Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174, Attn: Prospectus Department, or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offers of securities will be made only by means of a prospectus supplement and accompanying base prospectus.