Seanergy Maritime Announces Repurchases Of $1.6M Of Common Shares And Agreement To Acquire A Newcastlemax Vessel Through A Bareboat-In Charter Rate Of $9,000 Over The Charter Period; After 12-Months Co Has Option To Purchase Vessel For $20.2M
Portfolio Pulse from Happy Mohamed
Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has repurchased 362,161 common shares at an average price of $4.35 per share, representing a 11.2% discount from the closing price of July 5, 2023. The company also entered into a 12-month bareboat charter agreement with a third party in Japan for a Newcastlemax dry bulk vessel. Seanergy has advanced a down payment of $3.5 million and will pay an additional $3.5 million on delivery of the vessel, as well as a daily bareboat rate of $9,000 over the charter period. Seanergy has an option to purchase the vessel for $20.2 million after 12 months.
July 06, 2023 | 12:32 pm
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Seanergy Maritime repurchased shares at a discount and entered into a charter agreement for a vessel, with an option to purchase it after 12 months.
The repurchase of shares at a discount could indicate the company's confidence in its own stock, potentially leading to increased investor confidence and a short-term positive impact on the stock price. The charter agreement provides Seanergy with a new asset that could generate revenue, and the option to purchase the vessel could be a long-term investment. Both actions demonstrate proactive management, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100