C3is (CISS) launches $98M at-the-market equity program with Aegis
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
C3is Inc. has entered into an At-The-Market Issuance Sales Agreement with Aegis Capital Corp., allowing it to sell common shares with an aggregate offering value of up to $98 million from time to time. Sales will be made under the company’s effective Form F-3 shelf registration statement, using Aegis as sales agent.
The company will choose the timing and number of shares sold and plans to use any proceeds for working capital and general corporate purposes, including paying part of the purchase price for two contracted product tankers or other vessel acquisitions.
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FAQ
What did C3is Inc. (CISS) announce in this Form 6-K?
C3is Inc. entered an At-The-Market Issuance Sales Agreement with Aegis Capital Corp. The agreement lets the company sell common shares over time, with total potential proceeds up to $98 million under an existing effective Form F-3 shelf registration statement.
How much stock can C3is Inc. (CISS) sell under the new ATM program?
C3is Inc. may sell common shares with an aggregate offering value of up to $98 million. These shares can be issued from time to time through Aegis Capital Corp. as sales agent, under the company’s effective Form F-3 shelf registration statement.
What will C3is Inc. (CISS) use the ATM proceeds for?
C3is Inc. intends to use proceeds for working capital and general corporate purposes. This may include paying part of the purchase price for two contracted product tankers or funding other vessel acquisitions, supporting the company’s fleet-related investment plans and liquidity needs.
Who is acting as sales agent for C3is Inc. (CISS) in the ATM facility?
Aegis Capital Corp. is serving as sales agent under the At-The-Market Issuance Sales Agreement. It may execute sales of C3is Inc.’s common shares from time to time, as directed by the company, within the $98 million aggregate offering capacity.