Seanergy Maritime (SHIP) to Sell 1.18M Common Shares at $4.15 in Registered Direct Offering

August 5, 2016 3:33 PM EDT

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Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced today that it has entered into a Securities Purchase Agreement with one institutional investor, pursuant to which the Company will sell 1,180,000 shares of common stock at a purchase price of $4.15 per share for gross proceeds of $4.9 million in a registered direct offering. No warrants were issued to investors in the offering. The closing of the transaction is expected to occur on or about August 10, 2016, subject to the satisfaction of customary closing conditions.

Maxim Group LLC acted as the exclusive placement agent for the offering.

The Company estimates that the net proceeds from the sale of the securities, after deducting fees and expenses, will be approximately $4.5 million. The net proceeds of this offering are expected to be used for general corporate purposes.

The shares of common stock are being offered pursuant to a shelf registration statement on Form F-3 (File No. 333- 205301) previously filed and declared effective by the United States Securities and Exchange Commission ("SEC").

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