Seanergy Maritime (SHIP) Announces Pricing of Approximately $5.2 Million Offering of Common Shares, Warrants

Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to purchase approximately $5.2 million of its common shares (the “Common Shares”) in a registered direct offering and warrants to purchase Common Shares in a concurrent private placement.

Under the terms of the securities purchase agreement, the Company has agreed to sell 42,950,000 Common Shares. In a concurrent private placement, the Company has agreed to issue warrants to purchase up to 42,950,000 Common Shares. The warrants will be exercisable upon issuance and have an exercise price of $0.12 per share. The warrants will expire 5 years from the issuance date. The purchase price for one Common Share and a corresponding warrant will be $0.12. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $5.2 million before deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering and concurrent private placement are expected to close on or about May 4, 2020, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as sole placement agent for the offering.

The Common Shares being sold pursuant to the registered direct offering are being sold pursuant to a shelf registration statement on Form F-3 (File No. 333-226796), previously filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2018, as amended, and declared effective on August 17, 2018.

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