Castor Maritime Entered Into An "At-the-Market" Equity Distribution Agreement With Maxim Group Dated May 23, 2023 Under Which Co May Sell Shares Of Its Common Stock Of Up To $30M
Portfolio Pulse from Charles Gross
Castor Maritime has entered into an 'At-the-Market' equity distribution agreement with Maxim Group, dated May 23, 2023, under which the company may sell shares of its common stock of up to $30 million.
May 23, 2023 | 9:30 pm
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Castor Maritime's agreement with Maxim Group allows the company to sell up to $30 million in common stock, potentially impacting its stock price.
The 'At-the-Market' equity distribution agreement allows Castor Maritime to sell up to $30 million in common stock. This could potentially dilute the value of existing shares, but it also provides the company with additional capital for growth and expansion. The impact on the stock price is uncertain, as it depends on the market's perception of the company's growth prospects and the dilution effect on existing shares.
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