Container ship charter owner Costamare said proceeds from the sale of 7.5 million shares in a secondary offering on the NYSE will be used to acquire ships and repay debt.
The controlling Konstantakopoulos family intends to buy up to 750,000 shares, the Athens-based ship-owner said.
Costamare plans to grant underwriters of the offering a 30-day option to purchase up to 1.125 million additional shares of its common stock.
This is Costamare’s first share sale since its initial public offering in November 2010, which raised a net $160 million.
The company filed a shelf registration statement with the Securities and Exchange Commission in January, enabling it to sell up to $300 million of stock.
Costamare controls a fleet of 57 ships with a total capacity of about 324,000 20-foot equivalent units, including 10 vessels on order aggregating about 89,000 TEUs.
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