Euroseas plans secondary stock offering
Euroseas Ltd., an Athens-based owner and operator of dry bulk and containerships, said it has filed a preliminary prospectus for a secondary stock offering.
Euroseas' shares are listed on the NASDAQ stock exchange. Proceeds would be used to acquire additional vessels and general corporate purposes, the company said.
Euroseas, which was formed in 2005 to consolidate the ship owning interests of the Pittas family, plans to sell 5 million shares of common stock; underwriters have an overallotment option to purchase up to 750,000 additional shares.
The company has a fleet of 11 vessels, including two Panamax drybulk carriers, two handysize drybulk carriers, six containerships with aggregate capacity of 9,229 TEUS, and one multipurpose dry cargo vessel.
Euroseas plans secondary stock offering
