Globus Maritime Limited Stock Price, News & Analysis

Globus Maritime Limited (NASDAQ: GLBS) announced a registered direct offering to issue 4.8 million common shares and warrants for a total of approximately $30 million. Each common share and warrant has a purchase price of $6.25, and warrants will be exercisable immediately at the same price for five and a half years. The offering is expected to close around February 17, 2021. Maxim Group LLC acts as the placement agent. The shares are offered under an effective shelf registration statement filed with the SEC.

Globus Maritime Limited (NASDAQ: GLBS) has announced a new charter for its vessel Sun Globe, a Supramax dry bulk carrier, commencing February 1, 2021. This charter has a minimum duration of four months, with potential extension up to six months, generating estimated gross revenue of $1.25 million to $2.3 million based on duration. CEO Athanasios Feidakis noted that securing this charter covers approximately 65% of projected operating expenses for 2021.

On January 27, 2021, Globus Maritime Limited (GLBS) announced a registered direct offering involving 2.6 million common shares and warrants for an estimated gross proceeds of approximately $16.3 million. The purchase price is set at $6.25 per common share, with warrants exercisable immediately at the same price. Additionally, the exercise price of previously issued warrants has been reduced from $8.50 to $6.25. The offering is expected to close on or about January 29, 2021, subject to customary conditions. Maxim Group LLC is the sole placement agent for this transaction.

Globus Maritime Limited (NASDAQ: GLBS) announced a new time charter for its vessel Star Globe, a 56,867-deadweight ton Supramax dry bulk carrier, effective January 13, 2021. The contract has a minimum duration of five months and a maximum of eight months, potentially generating gross revenue of approximately $1.4 million to $2.6 million, depending on duration. This agreement, along with previous charters, is expected to cover about 50% of the company’s projected fleet operating expenses for 2021, reinforcing the company’s strategy to leverage favorable market conditions.

On January 6, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced a new time charter for its vessel Moon Globe. The charter, starting January 21, 2021, has a minimum duration of three months and can extend up to six months, potentially generating gross revenues of approximately $1.3 million for the minimum and $2.4 million for the maximum duration. This secures about 40% of the company's projected fleet operating expenses for 2021, indicating a strong start for the year.

On December 9, 2020, Globus Maritime Limited (NASDAQ: GLBS) completed a registered direct offering of 1,256,765 common shares, 155,000 pre-funded warrants, and warrants for an additional 1,270,587 common shares. The company raised approximately $12 million before deducting fees and expenses. This offering was conducted under an effective shelf registration statement filed with the SEC. The company operates six dry bulk vessels with a total capacity of 381,738 Dwt as of December 7, 2020, and focuses on transporting a variety of dry bulk cargoes.

Globus Maritime Limited (NASDAQ: GLBS) has announced a registered direct offering to sell approximately 1.41 million common shares and warrants to purchase an additional 1.27 million shares at a price of $8.50 per share. The gross proceeds are estimated at $12 million before fees. The offering is expected to close on or around December 9, 2020, pending customary conditions. Maxim Group LLC is the sole placement agent for this transaction, which falls under a shelf registration statement approved by the SEC.

Globus Maritime Limited (NASDAQ: GLBS) reported significant financial results for Q3 and the nine-month period ending September 30, 2020. Total assets rose to $76.4 million, a 37% increase from $55.7 million in December 2019. Cash and bank balances surged by 550% to $31.2 million. However, total comprehensive loss for Q3 was $1.3 million, with a loss per share of $0.80. Voyage revenues fell 35% to $7.8 million, driven by a 44% drop in daily time charter equivalent rates due to COVID-19 impacts. Management remains optimistic about improving market conditions in 2021.

Globus Maritime Limited (NASDAQ: GLBS) will announce its financial results for the three and nine months ending September 30, 2020, on December 4, 2020, after market close. The company operates and manages a fleet of six dry bulk vessels, with a total carrying capacity of 381,738 Dwt and a weighted average age of 10.9 years. Globus specializes in transporting various cargoes, including iron ore, coal, and grain, providing marine transportation services globally.