Contact Information: For further information please contact: Seanergy Maritime Corp. Panos Zafet CEO & Co-chairman of the Board 10, Amfitheas Avenue 17564 P. Faliro Athens, Greece Tel: 30 210 9406900 Fax: 30 210 9406933 Investor Relations / Financial Media: Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: seanergy@capitallink.com
Seanergy Maritime Corp. Completes Initial Public Offering
| Source: Seanergy Maritime Corp.
ATHENS, GREECE--(Marketwire - October 1, 2007) - Seanergy Maritime Corp. (AMEX : SRG.U )
announced today that it has closed its initial public offering of
22,000,000 units. The units were sold at an offering price of $10.00 per
unit. Each unit issued in the initial public offering consists of one share
of the Company's common stock, $.0001 per value per share (the "Common
Stock") and one warrant to purchase one share of Common Stock. Prior to the
consummation of the initial public offering, the Company consummated a
private placement of 16,016,667 warrants at $0.90 per warrant to the
executive officers of the Company. The warrants sold in the private
placement are identical to those included in the units sold in the initial
public offering.
The Company also announced today that the underwriters for its initial
public offering exercised their over-allotment option as to an additional
1,100,000 units (which are identical to the units sold in the initial
public offering) and purchased such units today. The initial public
offering (including the sale of the 1,100,000 units subject to the
underwriters' over-allotment option) and the private placement generated
gross proceeds in the aggregate amount of $245,415,000 of which
$231,000,000 has been deposited into a trust account for the benefit of
Seanergy Maritime Corp.'s public shareholders. Maxim Group LLC served as
book-running manager of the offering.
A registration statement relating to these securities has been filed with
and declared effective by the Securities and Exchange Commission on
September 24, 2007. This press release shall neither constitute an offer to
sell nor the solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities law of any such state. The offering of these securities will be
made only by means of a prospectus, a copy of which may be obtained from
Maxim Group LLC, 405 Lexington Avenue, New York, New York, 10174,
Telephone: (800) 724-0761.
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term is
defined by the United States Private Securities Litigation Reform Act of
1995. Any such forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties that may cause actual results to differ materially from
expectations such as material adverse events affecting the Company, the
ability of Company to satisfy the conditions to completion of the business
combination and those other risks and uncertainties detailed in the
Company's filings with the Securities and Exchange Commission.
About Seanergy Maritime Corp.
Seanergy Maritime Corp. is a newly organized Business Combination
Company™, or BCC™. A BCC™ is a blank check company formed for the
purpose of acquiring, through a merger, capital stock exchange, asset
acquisition or other similar business combination, an unidentified
operating business. We intend to focus on identifying one or more
businesses or assets in the maritime shipping industry, but will not be
limited to pursuing acquisition opportunities only within that industry. We
do not have any specific merger, capital stock exchange, asset acquisition
or other similar business combination under consideration and have not
contacted any prospective target business or had any discussion, formal or
otherwise, with respect to such a transaction.