Icon Energy Corp. Announces the Acquisition of a Kamsarmax Dry Bulk Carrier
08 Août 2024 - 2:00PM
Icon Energy Corp. (“Icon Energy” or the “Company”)
(Nasdaq: ICON), an international shipping company that provides
worldwide seaborne transportation services for dry bulk cargoes,
announces that on August 2, 2024, it entered, through a separate
wholly-owned subsidiary, into an agreement with an unaffiliated
third-party to acquire a Kamsarmax dry bulk carrier, built in
November 2007 in Japan, for a purchase price of $17.57 million. The
Company expects to finance the purchase price of the vessel with a
combination of cash on hand and borrowings under a new senior
secured facility that the Company anticipates it will enter into
prior to taking delivery of the vessel.
The acquisition is subject to the satisfaction
of certain customary closing conditions and is expected to be
concluded upon taking delivery of the vessel between September and
November of 2024.
Ismini Panagiotidi, Chairman and Chief
Executive Officer of Icon Energy commented:
“We are pleased to announce our first vessel
acquisition since the completion of our Initial Public Offering.
With our addition of this asset, we will double the size of our
fleet, consistent with our growth strategy and goal to create value
for our shareholders.”
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 common shares 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 U.S.
Securities and Exchange Commission (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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