Icon Energy Corp. Announces Updates in Connection with the SEPA

Rhea-AI Summary

Icon Energy Corp. (Nasdaq: ICON) announced that it sold 1,136,470 common shares under its Standby Equity Purchase Agreement (SEPA) entered August 27, 2025, at an average price of $3.11 per share. The company reported net proceeds of $3.5 million and said proceeds will be used for general corporate purposes and to pursue growth opportunities and strategic initiatives. Icon stated the average sale price exceeded the volume-weighted average market price during the respective period and described the SEPA as a flexible source of capital subject to its terms and conditions. As of January 21, 2026, Icon reported 2,508,470 common shares issued and outstanding.

Positive

• $3.5M net proceeds raised
• Average sale price $3.11 exceeded VWAP
• SEPA provides flexible capital access (Aug 27, 2025)

Negative

• Issued 1,136,470 common shares
• Sold shares represent approximately 45.3% of outstanding stock

News Market Reaction – ICON

-1.73%

8 alerts

-1.73% Session close to close

+3.8% Peak Tracked

-6.3% Trough Tracked

$5.79M Market Cap

0.1x Rel. Volume

In the Jan 21 session, ICON declined 1.73%, reflecting a mild negative market reaction. Argus tracked a peak move of +3.8% during that session. Argus tracked a trough of -6.3% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details continued use of the SEPA, with 1,136,470 shares sold at an average $3.11 ...

Analysis

This announcement details continued use of the SEPA, with 1,136,470 shares sold at an average $3.11 to raise $3.5 million, and total common shares at 2,508,470. It follows earlier SEPA activity and recent moves such as a 1-for-5 reverse split and a $1.0 million buyback authorization. Investors may focus on how much of the $20 million SEPA capacity is ultimately tapped, the balance between issuance and repurchases, and the effect on per-share value.

Key Figures

Shares sold under SEPA: 1,136,470 shares Average sale price: $3.11 per share Net proceeds: $3.5 million +5 more

8 metrics

Shares sold under SEPA 1,136,470 shares Recent advances under Standby Equity Purchase Agreement

Average sale price $3.11 per share Price for 1,136,470 shares sold under SEPA

Net proceeds $3.5 million Use for general corporate purposes and growth initiatives

Shares outstanding 2,508,470 shares Common shares issued and outstanding as of Jan 21, 2026

Prior SEPA shares sold 680,023 shares Year-to-date sales disclosed Jan 13, 2026

Prior SEPA proceeds $2.3 million Net proceeds from 680,023 shares at $3.31

SEPA facility size $20 million Maximum common shares value over three years

Price move 19.07% 24h change prior to news at price $2.31

Historical Context

5 past events · Latest: Jan 13 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 13	SEPA capital raise	Negative	-6.2%	Update on SEPA-driven share sales and cash proceeds
Jan 06	Reverse stock split	Negative	+1.9%	1-for-5 reverse split to boost trading price
Dec 18	Share repurchase plan	Positive	+7.0%	Authorization of up to $1.0M share buybacks
Dec 17	Commercial update	Positive	-7.6%	Strong Q3 hire rates and revenue growth disclosure
Nov 24	SEPA share sales	Negative	+14.0%	First update on SEPA share issuance and pricing

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

News-driven moves often diverged from intuitive sentiment: positive updates (commercial strength, buyback) produced both rallies and selloffs, while SEPA-related dilution news sometimes coincided with gains and sometimes with declines.

Recent Company History

Over the past six months, Icon Energy has focused on capital structure and growth. A Nov 24, 2025 SEPA update detailed initial share sales under a $20 million facility. On Dec 17–18, 2025, the company issued a commercial update showing strong revenue growth and announced a $1.0 million buyback authorization. A Jan 6, 2026 1-for-5 reverse split sought to support Nasdaq compliance, followed by a Jan 13, 2026 SEPA capital raise update. Today’s SEPA-related sale continues that capital-access theme.

Key Terms

standby equity purchase agreement, sepa, volume-weighted average market price

3 terms

standby equity purchase agreement financial

"pursuant to advances under the Standby Equity Purchase Agreement (“SEPA”)."

A standby equity purchase agreement is a contract in which an investor or group agrees to buy a company’s newly issued shares on demand, giving the company a ready source of cash it can tap when needed. Think of it like a line of credit made with stock instead of a loan: it provides financial backup but can increase the number of shares outstanding, diluting existing owners and affecting per‑share value, so investors watch these deals for their impact on ownership and earnings per share.

sepa financial

"Icon entered into the SEPA with an investor on August 27, 2025."

SEPA, or Single Euro Payments Area, is a system that allows money to be transferred easily and quickly across European countries using a common set of rules and standards. It makes cross-border payments as simple as sending money within your own country, reducing costs and processing times. For investors, SEPA simplifies international transactions within Europe, making it easier to move funds and manage investments across multiple countries.

volume-weighted average market price technical

"exceeded the volume-weighted average market price during the respective period."

Volume-weighted average market price is the average price at which a security trades over a set period, where each trade’s price is given more influence based on how many shares changed hands. Think of it like calculating the average cost of apples in a market but giving more weight to the prices of the biggest purchases; investors use it to judge whether a trade was made at a typical, bargain, or expensive price and to benchmark trading performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ATHENS, Greece, Jan. 21, 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 since its most recent update, the Company has sold an aggregate of 1,136,470 of its common shares at an average price of $3.11 per share pursuant to advances under the Standby Equity Purchase Agreement (“SEPA”).

As previously announced, Icon entered into the SEPA with an investor on August 27, 2025. Icon believes that the SEPA provides a flexible and efficient source of capital that, subject to its terms and conditions, may be utilized at times and amounts of the Company’s choosing.

The Company’s disciplined execution resulted in an average price per share sold that exceeded the volume-weighted average market price during the respective period. The Company intends to utilize the net proceeds of $3.5 million for general corporate purposes and to pursue potential growth opportunities and strategic initiatives.

As of the date hereof, the Company had 2,508,470 common shares issued and outstanding.

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 did Icon Energy (ICON) sell under the SEPA on Jan 21, 2026?

Icon sold 1,136,470 common shares pursuant to advances under the SEPA.

What were the proceeds and average price per share for ICON's SEPA sales?

The sales generated net proceeds of $3.5 million at an average price of $3.11 per share.

When was Icon Energy's (ICON) SEPA established?

Icon entered into the SEPA with an investor on August 27, 2025.

How many ICON shares were outstanding after the SEPA sales reported Jan 21, 2026?

As of the date reported, Icon had 2,508,470 common shares issued and outstanding.

What will Icon Energy (ICON) use the SEPA proceeds for?

The company intends to use the net proceeds for general corporate purposes and to pursue growth opportunities and strategic initiatives.