Icon Energy Corp. Announces Updates in Connection with the SEPA
Rhea-AI Summary
Icon Energy Corp (Nasdaq: ICON) announced on Nov 24, 2025 that it has sold 132,144 common shares under its Standby Equity Purchase Agreement (SEPA) at an average price of $1.86 per share.
Icon entered the SEPA on Aug 27, 2025, under which an investor is obligated to purchase up to $20 million of common shares over three years. The company says the SEPA is a flexible capital source the company may use at its discretion to support strategic initiatives, operations, and potential growth opportunities.
Positive
- 132,144 shares sold under SEPA to raise capital
- Average price $1.86 per share received to date
- SEPA provides up to $20 million funding capacity over three years
Negative
- SEPA usage may cause shareholder dilution if fully drawn
- Only $245,773 raised so far vs $20 million capacity
News Market Reaction
On the day this news was published, ICON gained 13.96%, reflecting a significant positive market reaction. Argus tracked a peak move of +88.3% during that session. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $253K to the company's valuation, bringing the market cap to $2M at that time. Trading volume was exceptionally heavy at 210.8x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
ATHENS, Greece, Nov. 24, 2025 (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 to date it has sold 132,144 shares of the Company’s common shares pursuant to advances under the Standby Equity Purchase Agreement (“SEPA”) at an average price per share 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, 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 ICON shares were sold under the SEPA as of Nov 24, 2025?
What average price did ICON receive per share under the SEPA?
When did ICON enter the SEPA and what is its size?
What does the ICON SEPA mean for shareholders and dilution risk?
How much capital has ICON effectively raised from SEPA sales so far?
