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FAQ: C3is Inc. (CISS) $9 Million Public Offering Details
TL;DR
C3is raised $9 million through a public offering, providing capital to potentially acquire vessels and expand its fleet for competitive advantage in maritime transport.
C3is issued 7.5 million units at $1.20 each, generating $9 million in gross proceeds to fund capital expenditures and working capital through Aegis Capital Corp.
This funding supports C3is's operations in global shipping, facilitating essential dry bulk and crude oil transportation that underpins international trade and economic connectivity.
C3is's offering included unique Class D and E warrants alongside common shares, adding complexity to the investment structure for those interested in maritime finance.
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C3is Inc. (NASDAQ: CISS) has closed a public offering that generated approximately $9 million in gross proceeds before fees and expenses.
The company raised approximately $9 million through a public offering of 7,500,000 units priced at $1.20 per unit.
Each unit includes one common share or a pre-funded warrant in lieu thereof, along with Class D and Class E warrants.
The proceeds are intended to be used for capital expenditures (including potential vessel acquisitions), working capital, and general corporate purposes.
The transaction was placed by Aegis Capital Corp.
C3is Inc. is a ship-owning company providing dry bulk and crude oil seaborne transportation services.
The company owns four vessels: three handysize drybulk carriers with a total capacity of 97,664 deadweight tons (dwt) and an Aframax oil tanker with a cargo carrying capacity of approximately 115,800 dwt, resulting in a total fleet capacity of 213,464 dwt.
For more information, visit https://c3is.pro/ or view the full press release at https://ibn.fm/1Ln7X.
InvestorWire is a specialized communications platform that provides wire-grade press release syndication and other corporate communications solutions, and it published this announcement as part of its services.
Curated from InvestorBrandNetwork (IBN)
