Icon Energy Corp. Announces Capital Raise under the SEPA
Rhea-AI Summary
Icon Energy (Nasdaq: ICON) announced on Jan 13, 2026 that year-to-date it sold 680,023 common shares under its Standby Equity Purchase Agreement (SEPA), generating net proceeds of $2.3 million at an average price of $3.31 per share.
Icon entered the SEPA on Aug 27, 2025, giving the investor an obligation to buy, and Icon the right to issue, up to $20 million of common shares over three years, subject to terms and conditions. The company said it views the SEPA as a flexible source of capital to support operations and pursue growth opportunities.
Positive
- Net proceeds of $2.3 million year-to-date
- SEPA capacity of $20 million available over three years
- Average issuance price of $3.31 per share
Negative
- Issued 680,023 common shares year-to-date (share dilution)
- Future draws could dilute existing shareholders up to the $20 million commitment
News Market Reaction
On the day this news was published, ICON declined 6.16%, reflecting a notable negative market reaction. Argus tracked a peak move of +4.4% during that session. Argus tracked a trough of -11.9% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $627K from the company's valuation, bringing the market cap to $10M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ICON fell 11.54% while key marine shipping peers were mixed: OP up 7.81%, CISS down 7.48%, USEA down 3.35%, CTRM up 1.43%, GLBS flat. Moves are not directionally aligned, pointing to a stock-specific reaction.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Reverse stock split | Neutral | +1.9% | Announced 1-for-5 reverse stock split to support Nasdaq compliance. |
| Dec 18 | Share repurchase plan | Positive | +7.0% | Authorized up to $1.0M share repurchase program through Dec 31, 2026. |
| Dec 17 | Commercial update | Positive | -7.6% | Reported higher Q3 2025 hire rates and revenue growth with fleet expansion. |
| Nov 24 | SEPA share sales | Positive | +14.0% | Disclosed 132,144 shares sold under SEPA and outlined $20M capacity. |
ICON has recently seen mostly aligned reactions to corporate actions and financing updates, with one notable divergence on a strong commercial update.
Over the past few months, Icon Energy has combined capital structure actions with operating updates. A 1-for-5 reverse split effective Jan 8, 2026 modestly lifted the stock. A $1.0M share repurchase authorization through Dec 31, 2026 was followed by a stronger positive move. Commercially, Q3 2025 revenue reached $4.2M on significantly higher hire rates, yet the stock declined afterward. Earlier SEPA-related share sales on Nov 24, 2025 saw a double-digit gain, providing context for today’s additional SEPA usage.
Market Pulse Summary
The stock moved -6.2% in the session following this news. The decline reflects concern about additional equity issuance, as the company disclosed selling 680,023 shares for $2.3 million under its SEPA. Historically, SEPA-related sales on Nov 24, 2025 were followed by a gain, while a strong commercial update saw a negative move, indicating mixed reactions to news flow. With shares now well below the 200-day MA of 9.14 and near the 52-week low, capital-raising dynamics and dilution risk could remain central.
Key Terms
standby equity purchase agreement financial
AI-generated analysis. Not financial advice.
ATHENS, Greece, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon” or the “Company”) (Nasdaq: ICON), an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, announced today that year-to-date it has sold an aggregate of 680,023 shares of the Company’s common shares pursuant to advances under the Standby Equity Purchase Agreement (“SEPA”), generating net proceeds of
As previously announced, Icon entered into the SEPA with an investor on August 27, 2025. Subject to its terms and conditions, Icon has the right (but not the obligation) to issue to the investor, and the investor has the obligation to purchase up to
Icon believes that the SEPA provides a flexible and efficient source of capital that it may utilize at times and amounts of its choosing, subject to certain terms and conditions, to pursue potential growth opportunities with greater confidence and support strategic initiatives and operations.
About Icon Energy Corp.
Icon is an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels. Icon maintains its principal executive office in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol “ICON.”
Contact Information
Icon Energy Corp.
Dennis Psachos
Chief Financial Officer
+30 211 88 81 300
ir@icon-nrg.com
www.icon-nrg.com
FAQ
How many shares has ICON sold under the SEPA as of Jan 13, 2026?
How much cash did ICON raise from SEPA sales through Jan 13, 2026?
What is the remaining capacity of ICON's SEPA (Nasdaq: ICON)?
When did ICON enter the SEPA and what are its basic terms?
What was the average price per share for ICON's SEPA sales through Jan 13, 2026?
