Euroseas prices stock offering
Container and bulk shipowner Euroseas said it expects to net about $93.4 million from a follow-on offering of common stock.
The Athens-based shipowner said about 6.3 million shares, including 500,000 from a shareholder, will be offered at a price of $17 per share.
The underwriters will be granted a 30-day option to purchase from the company up to 948,750 additional shares of common stock to cover any overallotments.
The company intends to use the net proceeds to acquire additional vessels and for general corporate purposes. The company will not receive any of the proceeds from any shares of common stock sold by the selling shareholder