Icon Energy Corp. Announces Closing of $5.0 Million Initial Public Offering
15 Juillet 2024 - 10:15PM
Icon Energy Corp. (“Icon
Energy” or the “Company”) (Nasdaq: ICON),
an international shipping company that provides worldwide seaborne
transportation services for dry bulk cargoes, announced today the
closing of its previously announced initial public offering (the
“
Offering”) of 1,250,000 shares of the Company’s
common stock, par value $0.001 per share (the “
Common
Stock”), at an offering price of $4.00 per share, for
gross proceeds of approximately $5,000,000, before deducting
underwriting discounts and offering expenses. In addition, Icon
Energy has granted the underwriters a 45-day option to purchase up
to an additional 187,500 shares of Common Stock to cover
over-allotments at the initial public offering price, less the
applicable underwriting discount.
The shares of Common Stock began trading on the
Nasdaq Capital Market on July 12, 2024, under the symbol
“ICON”.
The Company intends to use the net proceeds of
this Offering for general corporate purposes, which may include,
among other things, funding for working capital needs and fleet
expansion.
Maxim Group LLC acted as the sole book-running
manager in connection with the Offering.
A registration statement on Form F-1 (File No.
333-279394) was filed with the U.S. Securities and Exchange
Commission (“SEC”), and was declared effective by
the SEC on July 11, 2024. A final prospectus relating to the
offering has been filed with the SEC and is available on the SEC’s
website at http://www.sec.gov. The Offering was made only by means
of a prospectus forming part of the effective registration
statement. Electronic copies of the prospectus relating to this
Offering may also be obtained from Maxim Group LLC, 300 Park
Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate
Department, by telephone at (212) 895-3745 or by email at
syndicate@maximgrp.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Icon Energy
Icon Energy is an international shipping company
that provides worldwide seaborne transportation services for dry
bulk cargoes through the ownership, chartering and operation of
oceangoing vessels. Icon Energy maintains its principal executive
office in Athens, Greece, and its shares of Common Stock trade on
the Nasdaq Capital Market under the symbol “ICON”.
Forward Looking Statements
This communication contains “forward-looking
statements.” Statements that are predictive in nature, that depend
upon or refer to future events or conditions, or that include words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions that are other than statements of historical fact are
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. These forward-looking
statements are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although the Company believes that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant risks, uncertainties and contingencies which
are difficult or impossible to predict and are beyond our control,
the Company cannot provide assurance that it will achieve or
accomplish these expectations, beliefs or projections. The
Company’s actual results could differ materially from those
anticipated in forward-looking statements for many reasons,
including as described in the Company’s filings with the SEC. As a
result, you are cautioned not to unduly rely on any forward-looking
statements, which speak only as of the date of this
communication.
Factors that could cause actual results to
differ materially from those discussed in the forward-looking
statements include, among other things: the Company’s future
operating or financial results; the Company’s liquidity, including
its ability to service any indebtedness; changes in shipping
industry trends, including charter rates, vessel values and factors
affecting vessel supply and demand; future, pending or recent
acquisitions and dispositions, business strategy, areas of possible
expansion or contraction, and expected capital spending or
operating expenses; risks associated with operations; broader
market impacts arising from war (or threatened war) or
international hostilities; risks associated with pandemics
(including COVID-19); and other factors listed from time to time in
the Company’s filings with the SEC. Except to the extent required
by law, the Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based. You should, however, review the factors and risks the
Company describes in the reports it files and furnishes from time
to time with the SEC, which can be obtained free of charge on the
SEC’s website at www.sec.gov.
Contact Information
Icon Energy Corp.Dennis PsachosChief Financial Officer+30 211 88
81 300ir@icon-nrg.comwww.icon-nrg.com
Icon Energy (NASDAQ:ICON)
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