Euroseas Ltd. Announces Three Transformative Transactions Reducing its Cost of Capital and Significantly Expanding its Fleet: Refinancing of Two Vessels, Partial Redemption of the Majority...
Euroseas Ltd. (ESEA)
Last euroseas ltd. earnings: 2/19 09:05 am
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euroseas.gr
Company Research
Source: GlobeNewswire
MAROUSSI, ATHENS, Greece, June 03, 2019 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, today announced its entry into three material transactions: the refinancing of two of its vessels with simultaneous interest rate reduction for all other existing loans;the redemption of approximately 60% of its outstanding Series B Preferred Shares with simultaneous reduction of the dividend rate for the preferred shares remaining outstanding; and,the signing of memoranda of agreement to acquire four vessels for a combination of cash and common shares. Euroseas believes that the combined effect of these transactions will be to reduce its interest and preferred dividend expenses by approximately $1.4 million per year as well as its overall leverage of combined debt and preferred equity. The details of the transactions are as follows: Refinancing
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ESEA
Earnings
- 11/20/24 - Beat
ESEA
Sec Filings
- 11/21/24 - Form 6-K
- 11/12/24 - Form 6-K
- 10/22/24 - Form 6-K
- ESEA's page on the SEC website