Today the vessel giant Seanergy Maritime (SHIP) that operates as an international shipping company specializing in the worldwide seaborne transportation of dry bulk commodities and focuses on owning and management of fleet of Capesize bulk carrier has just announced an offering of $6.1 Million.
As we reported last week that TOP Ships also had an offering, both of these companies are in the dry bulk transportation business and may see a huge boost when the economy is ready to open back up.
Seanergy Maritime (SHIP) Offering
The offering comes at just $6.1 million or 50,750,000 Common Shares being sold to an unaffiliated institutional investor Seanergy Maritime also agreed to issue warrants to purchase up the 50,750,000 million shares at an exercise price of $0.12 or $6,090,000.
The offering and private placement is expected to close on April 22, 2020. In addition, effective on the closing of the offering, the Company’s Board of Directors has determined, pursuant to the terms of the Company’s outstanding Class D Warrants issued on April 2, 2020, to reduce the exercise price of the Class D Warrants from $0.17 to $0.12.
The shares are being sold pursuant to a shelf registration agreement. Maxim Group is acting as the sole placement agent for the offering.
Why Investing in Seanergy Maritime (SHIP) is a Great Idea
As the economy opens back up after the shut down caused by the coronavirus, there will be a possible backlog in shipping therefore it may be lucrative in owning some of SHIP stock.
Investors have identified the tech company Seanergy Maritime Holdings Corp. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $17.91 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations.
With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Dry bulk includes significant commodities carried in bulk like major bulks which refer to bulks such as iron, ore, coal and grain and steel products (coils, plates and rods), lumber or log and other commodities classified as the minor bulk.
The Baltic Index BDI Baltic Exchange Dry Index is currently at $751, up $25 or 3.44% from previous close of $720. Analysts expect it to go back to it’s all times highs of around $20,000 per share.
Why is the Baltic Dry Index used?
The Baltic Dry Index is a leading economy indicator that provides a clear view into the global demand for commodities and raw materials. The fact that the Baltic Dry Index focuses on raw materials is important because demand for raw materials provides a glimpse into the future.
A change in the Baltic Dry Index can give investors insight into global supply and demand trends. Many consider a rising or contracting index to be a leading indicator of future economic growth. It’s based on raw materials because the demand for them portends the future.
