LIMASSOL, Cyprus, Dec. 31, 2020 (GLOBE NEWSWIRE) — Castor Maritime Inc. (the “Firm”) (NASDAQ: CTRM) broadcasts right this moment that it has entered right into a securities buy settlement with sure unaffiliated institutional traders to subject roughly 94.8 million of its widespread shares and warrants to buy as much as an combination of 94.8 million widespread shares at a purchase order value of $0.19 per widespread share and accompanying warrant in a registered direct providing. The warrants could have an train value of $0.19 per share, are exercisable instantly and can expire 5 years following the date of issuance.
Maxim Group LLC is performing as sole placement agent for the providing.
The gross proceeds to the Firm from the providing are estimated to be roughly $18.0 million earlier than deducting the position agent’s charges and different estimated providing bills. The providing is predicted to shut on or round January 5, 2021, topic to the satisfaction of customary closing situations.
The securities described above are being bought pursuant to the shelf registration assertion on Kind F-3 (File No. 333-232052), beforehand filed with the Securities and Change Fee (the “SEC”) on June 10, 2019 and declared efficient on June 21, 2019. Such securities are being provided solely via a prospectus. A prospectus complement and the accompanying prospectus referring to and describing the phrases of the registered direct providing can be filed with the SEC. When out there, copies of the prospectus complement and the accompanying prospectus referring to the registered direct providing could also be obtained on the SEC’s web site at www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Ground, New York, NY 10174, at 212-895-3745.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of, these securities in any state or jurisdiction through which such supply, solicitation or sale could be illegal previous to registration or qualification of those securities beneath the securities legal guidelines of any such state or jurisdiction.
About Castor Maritime Inc.
Castor Maritime Inc. is a world supplier of shipping transportation companies by its possession of dry bulk vessels. The Firm’s vessels are employed totally on medium-term charters and transport a spread of dry bulk cargoes, together with such commodities as coal, grain and different supplies alongside worldwide shipping routes.
The Firm’s fleet presently consists of six Panamax dry bulk vessels.
For extra data please go to the Firm’s web site at www.castormaritime.com
Cautionary Assertion Relating to Ahead-Trying Statements
Issues mentioned on this press launch might represent forward-looking statements. The Personal Securities Litigation Reform Act of 1995 offers protected harbor protections for forward-looking statements so as to encourage firms to offer potential details about their enterprise. Ahead-looking statements embrace statements regarding plans, targets, objectives, methods, future occasions or efficiency, and underlying assumptions and different statements, that are apart from statements of historic information. The Firm needs to benefit from the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995 and is together with this cautionary assertion in reference to this protected harbor laws. The phrases “consider,” “anticipate,” “intend,” “estimate,” “forecast,” “undertaking,” “plan,” “potential,” “will,” “might,” “ought to,” “anticipate,” “pending” and comparable expressions determine forward-looking statements. The forward-looking statements on this press launch are primarily based upon varied assumptions, a lot of that are primarily based, in flip, upon additional assumptions, together with with out limitation, our administration’s examination of historic working developments, knowledge contained in our information and different knowledge out there from third events. Though we consider that these assumptions had been cheap when made, as a result of these assumptions are inherently topic to vital uncertainties and contingencies that are troublesome or not possible to foretell and are past our management, we can not guarantee you that we’ll obtain or accomplish these expectations, beliefs or projections. We undertake no obligation to replace any forward-looking assertion, whether or not on account of new data, future occasions or in any other case. Along with these vital components, different vital components that, within the Firm’s view, might trigger precise outcomes to vary materially from these mentioned within the ahead‐trying statements embrace basic dry bulk shipping market situations, together with fluctuations in charterhire charges and vessel values, the energy of world economies the soundness of Europe and the Euro, fluctuations in rates of interest and overseas alternate charges, modifications in demand within the dry bulk shipping business, together with the marketplace for our vessels, modifications in our working bills, together with bunker costs, dry docking and insurance coverage prices, modifications in governmental guidelines and rules or actions taken by regulatory authorities, potential legal responsibility from pending or future litigation, basic home and worldwide political situations, potential disruption of shipping routes resulting from accidents or political occasions, the size and severity of the COVID-19 outbreak, the impression of public well being threats and outbreaks of different extremely communicable illnesses, the impression of the anticipated discontinuance of LIBOR after 2021 on rates of interest of our debt that reference LIBOR, the supply of financing and refinancing and develop our enterprise, vessel breakdowns and situations of off‐rent, potential publicity or loss from funding in spinoff devices, potential conflicts of curiosity involving our Chief Govt Officer, his household and different members of our senior administration, and our capability to finish acquisition transactions as deliberate. Please see our filings with the Securities and Change Fee for a extra full dialogue of those and different dangers and uncertainties. The data set forth herein speaks solely as of the date hereof, and the Firm disclaims any intention or obligation to replace any ahead‐trying statements on account of developments occurring after the date of this communication.
CONTACT DETAILS
For additional data please contact:
Petros Panagiotidis
Castor Maritime Inc.
E-mail: i[email protected]
Media Contact:
Kevin Karlis
Capital Hyperlink
E-mail: [email protected]
