Greek container ship owner Costamare said proceeds from a planned share sale may be used to fund further vessel acquisitions.
The NYSE-listed company plans to offer 7 million shares of its common stock; up to 700,000 shares will be acquired by the members of the controlling Konstantakopoulos family.
Costamare also intends to offer underwriters of the offering a 30-day option to purchase up to 1.05 million additional shares.
The second share offer since Costamare’s initial public offering in November 2010 is expected to raise $100 million.
The net proceeds of the share offer, which is made under a $300 million shelf registration filed in January, will be used for “capital expenditures, including vessel acquisitions, and for other general corporate purposes, which may include repayments of indebtedness,” the company said.
Costamare raised around $100 million from a public equity offering of 7.5 million shares in March.
The Athens-based company is one of the world’s biggest owners of chartered container ships, with a fleet of 57 vessels with a total capacity of 329,000 20-foot-equivalent units, including 10 ships on order.
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