Seanergy Maritime Hldgs Corp Stock Price, News & Analysis

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced several initiatives in 2023, including the buyback of $8 million in convertible notes and $0.8 million in warrants, effectively eliminating the risk of dilution for 10.7 million shares. Since December 2021, the company has repurchased securities totaling $35.5 million. CEO Stamatis Tsantanis purchased 300,000 shares out of his confidence in the company’s future. A Special General Shareholders Meeting is slated for February 7, 2023, to vote on a reverse stock split between 1:8 and 1:12 to meet Nasdaq listing requirements. These efforts aim to enhance shareholder value and attract institutional investors.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced the final results of its tender offer to purchase outstanding Class E Warrants at $0.20 each. The offer expired on January 10, 2023, with 4,038,114 warrants tendered, representing 47% of the total outstanding. The company will pay for the valid warrants accepted and return any others. Seanergy operates a fleet of 16 Capesize vessels, expected to enhance its market position following the sale of two bulkers, leading to an average vessel age of 11.9 years and a capacity of approximately 2.85 million dwt.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced the preliminary results of its tender offer to purchase all outstanding Class E Warrants at $0.20 each. The offer expired on January 10, 2023, with 4,038,114 warrants tendered, representing about 47% of the outstanding Class E Warrants. The final results will be confirmed by the depositary, with payment made following this confirmation. Seanergy operates a fleet of 18 Capesize vessels, positioned as a pure-play ship-owner listed in the U.S.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will participate in Capital Link’s Corporate Presentation Webinar on January 11, 2023, at 10:00 AM ET. The senior management team will present insights into the company's operations and growth prospects in the dry bulk sector. Interested participants can register for the webinar via the provided link. A live Q&A session will allow attendees to engage with management. Seanergy operates a fleet of 16 Capesize vessels, emphasizing its unique position as a pure-play Capesize ship-owner in the U.S. market.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced the acquisition of a 2012-built Capesize vessel, M/V Paroship, for $31 million, funded by cash and a senior credit facility. This acquisition will enhance its fleet's efficiency and reduce its average fleet age. The company also agreed to sell two older vessels, M/V Goodship and M/V Tradership, for $36.25 million, expecting an $8 million profit in Q1 2023. A time charter contract for the M/V Paroship is in place with a premium rate over the Baltic Capesize Index, benefiting Seanergy's cash flow.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) released its Environmental, Social and Governance (ESG) Report for the year ending December 31, 2021. This report outlines the company's policies concerning ESG commitments, adhering to the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board. A newly formed Sustainability Committee, comprising two independent directors, will guide the Board on ESG matters. Seanergy operates a fleet of 17 modern Capesize vessels with a total cargo capacity of approximately 3,020,012 dwt.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced an amendment to its Schedule TO, related to its tender offer to purchase all outstanding Class E common stock purchase warrants at $0.20 each. This offer will expire on January 10, 2023, at 5:00 P.M. ET, unless extended. Seanergy operates a fleet of 17 Capesize vessels with a total cargo capacity of approximately 3,020,012 dwt, and is the only pure-play Capesize ship-owner listed in the U.S.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) reported third-quarter 2022 net revenues of $34.0 million, down from $48.2 million in Q3 2021. Net income fell to $7.1 million from $20.1 million, with adjusted net income at $7.6 million. EBITDA declined to $18.6 million from $30.1 million. Despite these declines, the company declared a quarterly dividend of $0.025 per share, yielding 25%. The daily Time Charter Equivalent (TCE) was $20,614, compared to $30,764 in the previous year, reflecting challenging market conditions.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced a tender offer to purchase its outstanding Class E Warrants at $0.20 each, commencing November 30, 2022, and expiring on January 10, 2023. The Board believes this is in the best interest of shareholders given current market conditions. Warrantholders may tender their warrants for cash. The offer is not contingent on financing or a minimum number of warrants being tendered, but other conditions apply. Seanergy is a publicly listed pure-play Capesize ship-owner, operating 17 vessels with a cargo capacity of approximately 3,020,012 dwt.