Seanergy Maritime Holdings Corp. will commence tomorrow a tender offer to purchase its outstanding Class E Warrants (the “Warrants”) to purchase one common share, par value $0.0001, (the “shares”) at a price of $0.20 per warrant. The tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on January 10, 2023 unless extended. The Board of Directors determined that it is in the Company’s best interest to offer to purchase the Warrants at this time given the current market conditions and interests of shareholders.
Pursuant to the tender offer, the Company’s warrantholders may tender their warrants until the tender offer expires. Warrantholders will receive the purchase price in cash, less any applicable withholding taxes and without interest, subject to the conditions of the tender offer. These provisions are described in the Offer to Purchase and in the Letter of Transmittal relating to the tender offer that will be filed with the U.S. Securities and Exchange Commission. The tender offer is not conditioned upon the receipt of financing or any minimum number of Warrants being tendered, but is subject to certain other conditions. Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the Offer to Purchase and related materials that will be mailed to warrantholders.
The Company has retained Continental Stock Transfer & Trust, N.A. as the depositary for the tender offer and Morrow Sodali LLC as the information agent.
Copies of the Offer to Purchase, the related Letter of Transmittal and the Notice of Guaranteed Delivery will be mailed to the Company’s warrantholders. Warrantholders who would like to obtain a copy of these documents, without charge, or who have any questions, may direct their inquiries to Morrow Sodali LLC, the information agent for the tender offer, toll free at 800-662-5200. Warrantholders are urged to carefully read all of these materials prior to making any decision with respect to the tender offer.
