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WFW advises Seanergy on four public offerings of common shares and warrants4 May 2020

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Watson Farley & Williams (“WFW”) advised Seanergy Maritime Holdings Corp. (“Seanergy”) on four public offerings executed in quick succession, raising approximately US$25m in total gross proceeds.

In the first offering, which priced on March 31, 2020, units consisting of common shares (or pre-funded warrants) and warrants were sold in an underwritten public offering registered with the SEC on Form F-1 for gross proceeds of approximately US$6.9m, including full exercise of the underwriter’s overallotment option. The following three offerings, which priced on April 9, 2020, April 20, 2020 and April 30, 2020, each consisted of common shares sold in a registered direct offering under Seanergy’s existing shelf registration statement on Form F-3, and warrants sold in a concurrent private placement, for aggregate gross proceeds of approximately US$18.1m.

Seanergy is the only pure-play Capesize ship-owner publicly listed in the US and provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels. Seanergy’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.

The WFW New York Capital Markets team advising Seanergy on these transactions was led by Partner Will Vogel, assisted by Partner Daniel Pilarski, Counsel Todd Johnson and Associate Daniel Berger.

Will commented: “In a volatile market, we were delighted to have assisted Seanergy in successfully executing this series of equity offerings. We look forward to continuing our relationship with Seanergy and advising them on future capital markets transactions.”

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