Okeanis Eco Tankers Corp. – Completion and pricing of USD 130 million offering of new common shares

Rhea-AI Summary

Okeanis Eco Tankers (NYSE: ECO) priced 3,611,111 new common shares at USD 36.00 per share, raising approximately USD 130 million gross. Net proceeds are expected to be used as partial consideration to acquire two Suezmax newbuildings at USD 99.3 million each from Daehan Shipbuilding, with deliveries expected in Q2 2026, subject to customary closing conditions and the Company obtaining required debt financing. Allocation notification occurred 21 Jan 2026; settlement via DTC is expected on or about 23 Jan 2026. If acquisitions do not close, proceeds may fund general corporate purposes.

Positive

• Gross proceeds of approximately USD 130 million
• Planned purchase of two Suezmax newbuildings at USD 99.3M each
• Expected vessel deliveries in Q2 2026

Negative

• Acquisitions require additional debt financing to close
• Offering issues 3,611,111 new shares, diluting existing holders
• Vessel purchases contingent on customary closing conditions

News Market Reaction

-1.34%

7 alerts

-1.34% News Effect

-$19M Valuation Impact

$1.38B Market Cap

0.1x Rel. Volume

On the day this news was published, ECO declined 1.34%, reflecting a mild negative market reaction. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $19M from the company's valuation, bringing the market cap to $1.38B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Offer Shares: 3,611,111 shares Offer price: USD 36.00 per share Gross proceeds: USD 130 million +3 more

6 metrics

Offer Shares 3,611,111 shares New common shares issued in the Offering

Offer price USD 36.00 per share Pricing of new common shares in the Offering

Gross proceeds USD 130 million Total gross proceeds from the Offering

Par value USD 0.001 per share Par value of the Company’s common stock

Vessel price USD 99.3 million Acquisition price per newbuilding Suezmax vessel

Vessel deliveries Q2 2026 Expected delivery period for the two Suezmax newbuildings

Market Reality Check

Price: $39.14 Vol: Volume 289,820 vs 20-day ...

normal vol

$39.14 Last Close

Volume Volume 289,820 vs 20-day average 333,290 (relative volume 0.87x). normal

Technical Trading above 200-day MA at 28.22 and 5.83% below 52-week high of 41.31.

Peers on Argus

ECO was down 1.67% while key peers like GNK, GSL, CCEC and NMM showed modest gai...

ECO was down 1.67% while key peers like GNK, GSL, CCEC and NMM showed modest gains between 0.42% and 1.56%, indicating a stock-specific move rather than a broad marine shipping shift.

Historical Context

5 past events · Latest: Jan 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 20	Commercial update	Positive	-1.7%	Strong Q4 2025 TCE and preliminary revenue figures disclosed.
Dec 19	Financial calendar	Neutral	-0.8%	Published detailed 2025–26 reporting and AGM schedule.
Dec 19	New debt financings	Neutral	-0.8%	Announced two $45M facilities for Suezmax newbuilds.
Dec 01	Dividend announcement	Positive	-0.8%	Declared Q3 2025 dividend of $0.75 per common share.
Nov 21	New shares trading	Neutral	+2.0%	Completion of $115M equity raise and start of trading.

Pattern Detected

Recent positive or informational announcements have often coincided with modest negative price reactions, suggesting a pattern of selling into news.

Recent Company History

Over the last few months, ECO has reported strong Q4 2025 trading metrics, including high TCE rates and delivery of two Suezmax newbuilds, alongside new vessel financings and a Q3 2025 dividend of USD 0.75 per share. It also expanded its equity base in November 2025 via a USD 115 million share offering tied to Suezmax acquisitions. Today’s new share issue for additional Suezmax newbuilds continues this strategy of equity-funded fleet growth following recent operational and financing updates.

Market Pulse Summary

This announcement details a USD 130 million equity offering of 3,611,111 new shares at USD 36.00 per...

Analysis

This announcement details a USD 130 million equity offering of 3,611,111 new shares at USD 36.00 per share to help fund two Suezmax newbuilds priced at USD 99.3 million each. It extends ECO’s recent strategy of equity-supported fleet expansion. Investors may focus on closing conditions, the need for additional debt financing, and Q2 2026 delivery timing when assessing dilution versus long-term earnings potential from the expanded tanker fleet.

Key Terms

prospectus supplement, form f-3, rule 424(b), delivery versus payment, +3 more

7 terms

prospectus supplement regulatory

"The Offering is being made only by means of a prospectus supplement..."

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

form f-3 regulatory

"pursuant to the Company’s registration statement on Form F-3 (File No. 333-287032)..."

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

rule 424(b) regulatory

"filed with the SEC under Rule 424(b) under the U.S Securities Act of 1933..."

Rule 424(b) is a U.S. Securities and Exchange Commission requirement that companies file the exact prospectus or prospectus supplement they use to sell securities after a registration statement becomes effective. Think of it as the official posting of the final sales brochure so investors can see the precise terms, risks and use of proceeds; it matters because it ensures transparency, helps investors compare offerings and confirms the issuer complied with disclosure rules.

delivery versus payment financial

"through the Depository Trust Company (DTC) on a delivery versus payment basis..."

A settlement method that ensures a security (like a share or bond) is handed over at the same moment payment is made, so neither party is left holding the asset or the cash alone. Think of it as exchanging keys and money at the same time to avoid one side being cheated; for investors, it cuts the risk that a trade fails and helps keep markets stable and reliable.

t+2 financial

"delivery versus payment basis on or about 23 January 2026 (DVP, T+2)..."

t+2 is the standard settlement rule that means a securities trade is finalized two business days after the trade date; the buyer must deliver funds and the seller must deliver the shares within that window. Think of it like ordering an item that is paid for at checkout but is officially delivered two days later—investors need to track this timing for cash availability, margin requirements, corporate actions, and to avoid settlement failures or unexpected exposure.

depository trust company (dtc) financial

"delivery of the allocated Offer Shares to investors through the Depository Trust Company (DTC)..."

A Depository Trust Company (DTC) is a centralized organization that holds stocks and other securities in electronic form and moves ownership between brokerages when trades occur. Think of it as a digital safe and postal service for securities that handles settlement, record-keeping and delivery of dividends or corporate notices. Its role matters to investors because DTC membership and processes enable faster, more reliable trading, reduce paperwork and lower the risk of failed or delayed settlements.

eu market abuse regulation regulatory

"inside information pursuant to Article 7 of the EU Market Abuse Regulation..."

A set of EU-wide rules that prevent cheating in financial markets by banning insider trading, market manipulation, and misleading disclosure; it also requires timely public release of key company information so everyone can play on a level field. For investors, it reduces the risk that prices are driven by secret deals or false signals, making markets fairer and more reliable for deciding when to buy or sell — like referees enforcing fair play in a game.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (the “Company” or “OET”) (NYSE: ECO, OSE: OET) is pleased to announce that it has successfully priced an offering of 3,611,111 new shares of the Company’s common stock, par value USD 0.001 per share (the “Offer Shares”), at a price of USD 36.00 per Offer Share, raising gross proceeds of approximately USD 130 million (the “Offering”).

The net proceeds from the Offering are expected to be used as partial consideration for the acquisition of two newbuilding Suezmax vessels (the “Vessel Acquisitions”), each currently under construction at Daehan Shipbuilding Co., Ltd., a South Korean shipyard, each from an unrelated third-party seller, for an acquisition price of USD 99.3 million per vessel. Each vessel is a sister vessel to the two vessels delivered in January 2026, and is expected to be delivered from the shipyard during the second quarter of 2026, subject to satisfaction of closing conditions for such delivery, including that the Company obtaining the necessary debt financing required to fully fund the Vessel Acquisitions beyond equity raised in the Offering. If one or both of the Vessel Acquisitions do not consummate, the net proceeds from the Offering may be used for general corporate purposes. The purchase of one vessel is not contingent on the purchase of the other.

Notification of allocation is expected to take place today, 21 January 2026, around 13:00 CET.

The Offering is expected to be completed by delivery of the allocated Offer Shares to investors through the Depository Trust Company (DTC) on a delivery versus payment basis on or about 23 January 2026 (DVP, T+2), subject to the satisfaction of customary closing conditions, including that the agreements for the Vessel Acquisitions remaining in full force and effect at the time of closing. The Offer Shares will be available for trading on New York Stock Exchange once the Offer Shares have been issued and settlement has taken place through the DTC, expected on or about 23 January 2026. After delivery of Offer Shares, such shares may be transferred from DTC to Euronext Securities Oslo (the "VPS") in accordance with the customary arrangements for transfers of the Company’s shares between DTC and VPS.

The Company has considered the Offering in light of the equal treatment obligations under the Norwegian Securities Trading Act Section 5-14, and the Board is of the opinion that the Offering is in compliance with these requirements.

The Offering is being made pursuant to the Company’s shelf registration statement on Form F-3 (File No. 333-287032), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on 21 May 2025. The Offering is being made only by means of a prospectus supplement prepared specifically in relation to the Offering, which was filed with the SEC under Rule 424(b) under the U.S Securities Act of 1933 and can be obtained at www.sec.gov. Electronic copies of the prospectus supplement and related prospectus may also be obtained by contacting Fearnley Securities AS at prospectus@fearnleys.com or Clarksons Securities AS at compliance.oslo@clarksons.com. A final prospectus supplement is expected to filed with the SEC and made available at www.sec.gov.

This announcement is for information purposes only and does not constitute or form part of an offer to sell or the solicitation of an offer to purchase or subscribe for securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

Advisors

Fearnley Securities AS and Clarksons Securities AS are acting as joint global coordinators and joint bookrunners for the Offering, and Pareto Securities AS is acting as joint bookrunner (collectively referred to as the “Managers”). Fearnley Securities AS is not a U.S. registered broker-dealer, and to the extent that this offering is made within the United States, its activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended or through its affiliate Fearnley Securities Inc. Clarksons Securities AS is not a U.S. registered broker-dealer and to the extent that this offering is made within the United States, its activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended or through its affiliate Clarksons Securities, Inc. Pareto Securities AS is not a U.S. registered broker-dealer, and to the extent that this offering is made within the United States, its activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended or through its affiliate Pareto Securities Inc.

Contacts

Company:

Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
ir@okeanisecotankers.com 

Investor Relations / Media Contact:

Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
okeanisecotankers@capitallink.com

This information is considered to be inside information pursuant to Article 7 of the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Article 17 of the EU Market Abuse Regulation and Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published on the Oslo Stock Exchange by Irene Chaidemenou, Legal Counsel, Okeanis Eco Tankers Corp., on the date and time provided.

About OET

OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of eight modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers. 

Important information

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the Australia, Canada, Japan, Hong Kong, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e. only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "EU Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).

This communication is only being distributed to and is only directed at persons in the United Kingdom that are "qualified investors" within the meaning of the EU Prospectus Regulation as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018 and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

Forward-Looking Statements

This communication contains “forward-looking statements”, including as defined under applicable laws, such as the US Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “hope,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with the SEC. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.

FAQ

How much did Okeanis (ECO) raise in the January 21, 2026 offering?

Okeanis priced 3,611,111 new shares at USD 36.00, raising approximately USD 130 million gross.

What will Okeanis (ECO) use the net proceeds for after the offering?

Net proceeds are expected to be used as partial consideration for two Suezmax newbuildings priced at USD 99.3 million each; otherwise for general corporate purposes.

When are the acquired Suezmax vessels expected to be delivered for Okeanis (ECO)?

Each vessel is expected to be delivered from the shipyard during Q2 2026, subject to closing conditions and financing.

When will the new Okeanis (ECO) shares be available for trading on the NYSE?

The Offer Shares are expected to be issued and available for trading after settlement through DTC on or about 23 Jan 2026.

Are the vessel purchases for Okeanis (ECO) conditional or independent?

The purchase of one vessel is not contingent on the purchase of the other, but each closing is subject to customary conditions and financing.

What financing risk remains after Okeanis (ECO) completed the equity offering?

The Company still needs to obtain the necessary debt financing required to fully fund the Vessel Acquisitions beyond the equity raised.