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Release – Eagle Bulk Shipping Inc. Completes First Sustainable Biofuel Voyage with GoodFuels

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Eagle Bulk Shipping Inc. Completes First Sustainable Biofuel Voyage with GoodFuels

Research, News, and Market Data on Eagle Bulk Shipping

 

STAMFORD, Conn., 
Dec. 08, 2021 (GLOBE NEWSWIRE) — 
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (“Eagle Bulk”, “Eagle”, or the “Company”), one of the world’s largest owner-operators within the midsize dry bulk segment, today announced that the Company has successfully completed its first sustainable biofuel voyage in cooperation with GoodFuels, a leading biofuels pioneer for the global transport industry.

The M/V Sydney Eagle (2015-built SDARI-64 Ultramax) was bunkered with GoodFuels’ advanced marine biofuel during its port call at Terneuzen, 
the Netherlands. Basis the Company’s calculations, the vessel’s well-to-exhaust CO2 emissions were reduced by approximately 90% during its voyage, as compared to utilizing traditional bunker fuel.

Jonathan Dowsett, Director of Fleet Performance at 
Eagle Bulk Shipping, said: “Eagle continues to actively explore ways to decarbonize its fleet, while maximizing efficiency in line with international targets to reduce carbon intensity and absolute emissions from shipping. We are extremely pleased with the results of our first biofuel-powered test voyage and look forward to working with GoodFuels in the future.”

Isabel Welten, Chief Commercial Officer at GoodFuels, said: “It’s an honour to work with Eagle Bulk as a fellow passionate environmental frontrunner that is exploring an innovative and sustainable pathway to shipping’s decarbonisation transition by bunkering our sustainable marine biofuels. We hope more organisations will follow Eagle’s footsteps in embracing our credible near-zero carbon alternative to fossil fuels, as the industry steps up its efforts to meet its environmental regulatory targets in the near future.”

About Eagle Bulk Shipping Inc.

Eagle Bulk Shipping Inc. (“Eagle” or the “Company”) is a US-based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in 
Stamford, Connecticut, with offices in 
Singapore and 
Copenhagen, Eagle focuses exclusively on the versatile mid-size drybulk vessel segment and owns one of the largest fleets of Supramax / Ultramax vessels in the world. The Company performs all management services in-house (including: strategic, commercial, operational, technical, and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis. For further information, please visit our website: www.eagleships.com.

About GoodFuels

GoodFuels is a 
Netherlands based global pioneer in sustainable marine fuels. The company has created a one-stop shop for marine industry customers, integrating the entire supply chain for sustainable marine biofuels. From feedstock to tank, GoodFuels’ proposition covers elements of sourcing feedstock and ensuring its 100% sustainability, the production and refining, the global distribution, quality assurance and marketing programs with ports, governments and end clients. GoodFuels is an RSB and ISCC member. GoodFuels is part of the 
GoodNRG Group, which is active under various labels and companies in sales, marketing, trading, R&D and production of truly sustainable fuels for the transport segments for which biofuels is one of the best or only viable long-term alternative. Learn more about GoodFuels at www.goodfuels.com. 

Company Contact
Frank De Costanzo
Chief Financial Officer

Eagle Bulk Shipping, Inc.
Tel. +1 203-276-8100
Email: investor@eagleships.com

Media Contact

Rose & Company
Tel. +1 212-359-2228

Source: 
Eagle Bulk Shipping Inc.

Release – TherapeuticsMD Settles U.S. Patent Litigation with Amneal for BIJUVA – Allowing for a May 25 2032 Generic Entry Date

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TherapeuticsMD Settles U.S. Patent Litigation with Amneal for BIJUVA® (Estradiol and Progesterone) — Allowing for a May 25, 2032 Generic Entry Date

Research, News, and Market Data on TherapeuticsMD

 

BOCA RATON, Fla.–(BUSINESS WIRE)–Dec. 8, 2021– 
TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, today announced the settlement of the previously disclosed 
U.S. patent litigation for BIJUVA® with Amneal Pharmaceuticals, Inc., Amneal Pharmaceuticals, LLC, and 
Amneal Pharmaceuticals of New York LLC (collectively “Amneal”).

As part of the settlement, 
TherapeuticsMD granted to Amneal a license to commercialize Amneal’s generic version of BIJUVA (1 mg estradiol and 100 mg progesterone) in 
the United States, commencing on 
May 25, 2032, or earlier under certain circumstances customary for settlement agreements of this nature. The last of TherapeuticsMD’s BIJUVA patents listed in the Food and Drug Administration’s Approved Drug Products with Therapeutic Equivalence Evaluation (“Orange Book”) currently expire on 
November 21, 2032. According to  Rob Finizio, Chief Executive Officer for 
TherapeuticsMD, “This settlement of only 180 days off of the life of our patents reflects the strength of the patent estate we have built for BIJUVA.”

The litigation, which has been pending in the 
U.S. District Court for the District of New Jersey since 2020, resulted from the submission by Amneal of an Abbreviated New Drug Application to the 
U.S. Food and Drug Administration seeking approval to market a generic version of BIJUVA before the 
November 21, 2032 patent expiration date listed in the Orange Book. As part of the settlement, the parties will file a consent judgment with the 
U.S. District Court for the District of New Jersey that enjoins Amneal from marketing a generic version of BIJUVA (1 mg estradiol and 100 mg progesterone) before the expiration of the patents-in-suit, except as provided for in the settlement and license.

About TherapeuticsMD, Inc.

TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. The company is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about 
TherapeuticsMD, please visit therapeuticsmd.com or follow us on Twitter: @TherapeuticsMD and on Facebook: 
TherapeuticsMD.

Forward-Looking Statements

This press release by 
TherapeuticsMD, Inc. may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to TherapeuticsMD’s objectives, plans and strategies as well as statements, other than historical facts, that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company’s control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in the company’s filings with the 
Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, and include the following: the effects of the COVID-19 pandemic; the company’s ability to maintain or increase sales of its products; the company’s ability to develop and commercialize IMVEXXY®, ANNOVERA®, and BIJUVA® and obtain additional financing necessary therefor; whether the company will be able to comply with the covenants and conditions under its term loan facility; whether the company will be able to successfully divest, or obtain an investment in, its vitaCare business and how the proceeds that may be generated by any such divestiture or investment will be utilized; the effects of supply chain issues on the supply of the company’s products; the potential of adverse side effects or other safety risks that could adversely affect the commercialization of the company’s current or future approved products or preclude the approval of the company’s future drug candidates; whether the FDA will approve the lower dose of BIJUVA and the manufacturing specification changes for ANNOVERA; the company’s ability to protect its intellectual property, including with respect to the Paragraph IV notice letters the company received regarding IMVEXXY and BIJUVA and the corresponding settlement regarding BIJUVA; the length, cost and uncertain results of future clinical trials; the company’s reliance on third parties to conduct its manufacturing, research and development and clinical trials; the ability of the company’s licensees to commercialize and distribute the company’s products; the availability of reimbursement from government authorities and health insurance companies for the company’s products; the impact of product liability lawsuits; the influence of extensive and costly government regulation; the impact of leadership transitions; the volatility of the trading price of the company’s common stock and the concentration of power in its stock ownership.

Lisa M. Wilson

In-Site Communications, Inc.
212-452-2793
lwilson@insitecony.com

Source: 
TherapeuticsMD, Inc.

Release – Aurania Reports High-Grade Drill Intercept of 12 Zinc 61g t Gallium

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Aurania Reports High-Grade Drill Intercept of 12% Zinc & 61g/t Gallium

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, December 8, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that drilling from hole 4 at Tiria-Shimpia returned a high-grade intercept of 12% zinc (approximately 273 pounds per metric tonne), 5 grams per tonne (“g/t”) silver and 61g/t gallium over 2.0 metres.  The drill intercept is from a 5.5-kilometre-long area of elevated metal values in soil – one of many such zones in the 22 kilometre-long, 3 kilometre wide, Tiria-Shimpia target area (Figure 1) in the central part of the Company’s Lost Cities – Cutucu Project area (“Project”) in southeastern Ecuador. Context and further details of these high-grade drill results are provided below.

Other key developments on the Project include:

  • Drilling started at hole 9 at Tsenken and is currently at a depth of approximately 350 metres (“m”). The hole is planned to run to a depth of approximately 500m. The target of hole TSN1-009 is copper-silver mineralization in evaporite mineral beds within the sedimentary layering.
  • An access agreement has been signed at the Company’s Awacha target and work has commenced. The goal of field work will be to refine the porphyry targets in the Awacha area.
  • Professor Gregor Borg is preparing a summary of his findings following his recent visit to site, and we expect that a video summary will be available in the coming weeks for all to view.

Results from Tiria-Shimpia Hole TS-004

Drill hole SH-004 at Tiria-Shimpia intersected a grade of 12.4% (approximately 273 pounds per metric tonne) zinc, 5.4g/t silver, 61g/t gallium, and 9g/t indium over 2.0m at a down-hole depth of 52.0m.  The mineralized interval lies within an 8.5m halo of 3% zinc.  For context, the resource grade at Glencore’s McArthur River Mine (formerly known as the HYC deposit), a large base metals deposit in Australia, is reported to be 237 million tonnes of 9.2% zinc, 4.1% lead and 41g/t silver, arranged in eight layers that are 1.0m to 5.0m thick. The McArthur River base metals deposit extends over an area of approximately 2 square kilometres (0.8 square miles).

Despite the intercept being at a depth of approximately 37.0m vertically below surface, the sulphide minerals have been weathered, indicating that deeper drilling would be required to intersect unweathered sulphide mineralization. A long section – a profile in which the viewer looks onto the plane of the mineralized layer, is shown in Figure 1.  This initial data suggests that zinc is concentrated in shoots that contain high-grade material.  Silver values delineate a more complex pattern than zinc, and additional data is required before a clear trend can be delineated.

The next step at Tiria-Shimpia would be to consider drilling deeper to intersect the zinc-silver shoots at depth, well below the depth of weathering.  The shoots are expected to contain high-grade silver and zinc.

Figure 1. a. Vertical profile of the mineralized structure showing the distribution of zinc grade in surface sampling as well as in drill hole SH-004.  Preliminary interpretation of these data suggest that zinc is concentrated in steeply-inclined shoots within the vein.  B. Map view of the location of the vein shown in a. within the Tiria-Shimpia area.

Drilling at Tsenken

The target being tested in hole TSN1-009 at Tsenken is copper-silver in sedimentary layers that originally contained salt and associated sulphate minerals that accumulated in salars similar to the salt-lakes present in the desert in Chile, Argentina and Bolivia today.  Under certain conditions, salt will fluidize and flow, leaving behind collapsed layering – so-called collapse breccias – that are permeable and provide pathways for mineralizing fluids to pass along sedimentary layering that otherwise has poor permeability and is inaccessible to mineralizing fluids.  Sulphate minerals that originally accumulated with the salt tend to be left behind after the salt has flowed away, leaving a source of sulphur that traps metals as sulphides in the collapse breccias.

Hole TSN1-009 was sited such that it would intersect salt within the sedimentary red-beds near the fault system that fed metals into the sedimentary strata.  Hole TSN1-009 has cut numerous salt layers in the red-beds – a feature that is encouraging in terms of there being a sulphate-rich evaporite layer that could have provided sulphur for copper precipitation as copper sulphide minerals.

Awacha

Survey teams have been deployed to the Awacha target area to work with communities to establish the limits of each community. This is the first step that is taken after any community access agreement has been signed. Once territorial limits have been established to the satisfaction of adjoining communities, exploration work can commence.  Exploration teams are expected to begin work mid-December on the target at Awacha, which appears to be a cluster of porphyries. The planned field work includes mapping of alteration minerals that are typically arranged in a concentric fashion around many porphyries, as well as soil sampling in a regular grid over the geophysical features and stream systems in which sediment sampling detected elevated metal content.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: Soil samples consisted of approximately one kilogram of clay from the iron-rich “B” horizon at each sample point. The soil samples were dried and subsequently screened through 80 mesh (using screens with apertures of approximately 0.18 millimetres).  A 250 gram (“g”) split of the material that passed through 80 mesh was pulverized to 85% passing 0.075mm and was packaged for shipment to the analytical facility.

The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  A 0.5g split of the -0.075mm fraction of soil samples underwent digestion with aqua regia, and the liquid was analyzed for 48 elements by ICP-MS. Apart from being analyzed by ICP-MS, gold was also analyzed by fire assay with an ICP-AES finish.

Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

 Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Voyager Digital Partners with CoinLedger to Streamline and Simplify Crypto Tax Reporting

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Voyager Digital Partners with CoinLedger to Streamline and Simplify Crypto Tax Reporting

Research, News, and Market Data on Voyager Digital

 

Leading Crypto and Tax Platforms Integrate to Give Users Ability to Track Cost Basis and Report Taxes

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced it is partnering with CoinLedger (a rebranding of CryptoTrader.Tax) to facilitate capital gains, losses, and income tax reporting for users.

“We are excited to join forces with the CoinLedger team and be at the forefront of the evolving crypto landscape by bringing a more simplified cryptocurrency tax reporting experience to all Voyager customers. This is one of several initiatives we are rolling out as we continue to stay focused on adding value to the Voyager user ecosystem,” said Steve Ehrlich, CEO and co-founder of Voyager.

The interoperable nature of cryptocurrencies and digital assets, with transfers into and out of platforms such as Voyager, can create tax challenges for users, especially when it comes to tracking cost basis—which is necessary for capital gains tax reporting. CoinLedger, a leading tax-reporting platform for cryptocurrency, DeFi, and NFT users, addresses this by integrating directly with leading exchanges, wallets, and blockchains to allow any cryptocurrency user to track their digital-asset transaction history across the crypto-economy.

Voyager customers will be able to use the CoinLedger platform as early as the upcoming 2021 tax year to import their cryptocurrency transactions and get capital gains, losses, and income reports. These reports can be imported into tax filing software such as TurboTax or sent off to tax professionals to facilitate easier tax filing.

“Voyager is forward-thinking when it comes to user experience,” said David Kemmerer, CEO and co-founder of CoinLedger. “Early on, the Voyager team realized that relying solely on blanket Form 1099 information reporting may not be sufficient to help customers report and file their crypto taxes. We’re excited to bring CoinLedger’s tax reporting solutions to the Voyager ecosystem and further enhance the user experience of the platform by making tracking and filing taxes easier for its customers.”

About Voyager Digital Ltd.

Voyager Digital Ltd. (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 65 different crypto assets using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

About CoinLedger

CoinLedger (a rebranding of CryptoTrader.Tax) enables seamless portfolio tracking and tax reporting for participants of the digital asset economy. Founded in 2017, CoinLedger was built to reduce the friction of participating in the cryptocurrency ecosystem by making tax reporting as simple as possible. By directly integrating with major exchanges, wallets, blockchains, and NFT platforms, CoinLedger provides a unified dashboard for users to track and monitor their cryptocurrency activity. Whether you’re trading cryptocurrencies, buying and selling NFTs, or staking on DeFi protocols, CoinLedger makes tracking your portfolio and reporting your taxes more straightforward than ever. For more information, visit https://cryptotrader.tax/world-meet-coinledger.

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.

Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

CoinLedger

Amy Camp
CoinLedger Communications
202-270-1783  
Amy@CoinLedger.io

DLH (DLHC) – Primed for Growth

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Tuesday, December 07, 2021

DLH (DLHC)
Primed for Growth

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    4Q21 Results. DLH reported revenue of $65.2 million in the quarter, up from $50.7 million in the same period last year. IBA added $8.5 million of revenue. We had projected revenue of $63.0 million. Net income totaled $2.9 million, or $0.21 per diluted share, versus $1.4 million, or $0.10 per diluted share, last year. We had forecasted $3.0 million, or $0.22 per share.

    Awards.  The big news during the quarter, and subsequently, has been the FEMA awards, which now total over $140 million, with the opportunity for additional follow-ons. While the FEMA awards are short-term in nature, DLH’s success in not only winning the awards, but also successfully implementing them, speaks volumes about the capabilities of the Company and bodes well for the future …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Seanergy Maritime Announces $16.6 Million Buyback of Convertible Notes, Warrants and Common Shares, as well as Open-Market Stock Purchases by the CEO

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Seanergy Maritime Announces $16.6 Million Buyback of Convertible Notes, Warrants and Common Shares, as well as Open-Market Stock Purchases by the CEO

Research, News, and Market Data on Seanergy Maritime

 

Seanergy Maritime Announces $16.6 Million Buyback of
Convertible Notes, Warrants and Common Shares, as well as
Open-Market Stock Purchases by the CEO

Highlights:

  • Buyback of $13.95 million of Convertible Notes
  • Buyback of Warrant to purchase 4.3 million shares
  • Buyback of 1.6 million of common shares
  • Elimination of potential dilution by 17.5 million shares
  • CEO open market purchases of 0.3 million shares
  • Seanergy BOD approves new buyback plan of $10 million

December 7, 2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today an aggregate of $16.6 million in buyback and elimination of:
(i)     two outstanding convertible notes with 5.5% coupon and a conversion price of $1.20 per share (the “Notes”),
(ii)     the entire amount of warrants to purchase common shares at an exercise price of $0.70 (the “Warrant”) held by the holder of the Notes and
(iii)     buyback of common shares, fully utilizing its previously announced share repurchase plan.

Moreover, Seanergy’s Chairman & CEO, Stamatis Tsantanis, has purchased in 2021 to date an additional 300,000 of the Company’s common shares in the open market.

Following the completion of the previously announced repurchase plan, the Board of Directors has authorized an additional repurchase plan (the “Plan”), under which the Company may repurchase up to $10 million of its common shares, convertible notes or warrants.

Notes

The Company will buyback and eliminate the Notes with an aggregate outstanding principal of $13.95 million held by Jelco Delta Holding Corp. (“Jelco”) at their full-face value, without any prepayment cost or additional consideration. The prepayment is expected to take place on December 10, 2021.

Based on an exercise price of $1.20 per share, the buyback will pre-empt potential dilution of 11.63 million shares. In conjunction with the repurchase of the Notes the Company expects to record a non-cash accounting loss of approximately $6.75 million in the fourth quarter of 2021. However, since the Notes carry a fixed coupon of 5.5% p.a., the Company will realise annual interest savings of $767,250 per year. In addition, the prepayment will have a positive impact on the income statement for the subsequent periods through the elimination of non-cash charges of an average of $2.9 million per year.

Warrant

The Company is also buying back from the holder of the Notes their sole outstanding Warrant to purchase 4,285,714 million shares for $1,023,136.

Common Shares

Following the end of the blackout period associated with the issuance of the financial results of the third quarter of 2021 and to-date, the Company has repurchased 1,595,803 of its outstanding common shares at an average price of approximately $0.998 pursuant to its previously-announced share repurchase program.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“As previously communicated to our shareholders, these strategic transactions are aimed to enhance shareholder value, reduce potential dilution from outstanding share-linked instruments and eliminate legacy overhang on our share price. At the same time, we generate significant savings in interest expense.

“The completion of the first phase of our buyback program of common shares, convertible notes and warrants reflects our firm belief that our share price is significantly undervalued. In this context, I have also continued my open market purchases of Seanergy’s shares, which indicates my strong confidence in the Company and its fundamentals.

“Our strong balance sheet coupled with our fleet’s robust cash-flow generating capacity reinforce our Company’s ability to continue on the same path without compromising our solid liquidity position.”

Summary of Repurchases:

The following table summarizes the repurchases of the various instruments:

  Purchase price Price per share Shares
Warrants $1,023,136 $0.939** 4,285,714*
Note 1 $200,000 $1.200 166,666*
Note 3 $13,750,000 $1.200 11,458,333*
Common Shares $1,593,150 $0.998 1,595,803
Total / Average $16,566,286 $1.118 17,506,516

*Not issued: shares underlying convertible securities
**Including $0.70 warrant exercise price per share

The Plan

The Company may repurchase common shares in open-market transactions pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended, or pursuant to a trading plan adopted in accordance with Rule 10b5?1 of the Securities Exchange Act of 1934.

Any repurchases pursuant to the Plan will be made at management’s discretion at prices considered to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, applicable securities laws and the Company’s financial performance. The Plan may be suspended, terminated, or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Plan does not obligate the Company to purchase any of its shares, and the Company may repurchase other outstanding securities of the Company, including its outstanding convertible notes, under the Plan. The Board of Directors’ authorization of the Plan is effective immediately and expires on December 31, 2022.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566

QuickChek – December 7, 2021

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Seanergy Maritime Announces $16.6 Million Buyback of Convertible Notes, Warrants and Common Shares, as well as Open-Market Stock Purchases by the CEO

Seanergy Maritime announced an aggregate of $16.6 million in buyback

Research, News & Market Data on Seanergy Maritime

Watch recent presentation from Seanergy Maritime



Gevo Inks Largest Supply Agreement To-Date for Renewable Fuels

Gevo announced that Kolmar Americas and Gevo have entered into a financeable fuel supply agreement for 45 million gallons per year (on a neat basis) of renewable, energy-dense liquid hydrocarbons

Research, News & Market Data on Gevo

Watch recent presentation from Gevo



Voyager Digital Partners with CoinLedger to Streamline and Simplify Crypto Tax Reporting

Voyager Digital announced it is partnering with CoinLedger to facilitate capital gains, losses, and income tax reporting for users

Research, News & Market Data on Voyager

Watch recent presentation from Voyager

 

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Gevo Inks Largest Supply Agreement To-Date for Renewable Fuels

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Gevo Inks Largest Supply Agreement To-Date for Renewable Fuels

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Dec. 07, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) has a new partner: Kolmar Americas Inc. (“Kolmar”). Kolmar and Gevo have entered into a financeable fuel supply agreement for 45 million gallons per year (on a neat basis) of renewable, energy-dense liquid hydrocarbons that are expected to be produced from Gevo’s second Net-Zero production facility, Net-Zero 2. Kolmar is a wholly owned subsidiary of Kolmar Group AG that is a privately held service provider, manufacturer, and marketer of renewable fuels headquartered in Zug, Switzerland.

The agreement with Kolmar demonstrates that Gevo is continuing to diversify its partner base geographically as it grows its presence on the global stage. The fuel supply agreement provides for Gevo to supply Kolmar with renewable hydrocarbons, including sustainable aviation fuel (“SAF”) and isooctane that is a key component of renewable premium gasoline.
 

Gevo expects to supply 45MGPY of renewable fuels to Kolmar from its Net-Zero 2 plant that is currently being developed in the Mid-West of the United States. Deliveries to Kolmar would represent the entire plant output based on Net-Zero 2’s current design. Under the fuel supply agreement, Net-Zero 2 is expected to generate approximately US$300 million per year of gross revenue, including revenue from environmental benefits. With protein and corn oil co-product sales, Net-Zero 2 is estimated to generate gross revenues of approximately US$350 million per year. Over the eight years of the agreement, Net-Zero 2 all-in, gross revenue is estimated to be up to approximately US$2.8 billion, inclusive of renewable fuels and related products for the food chain.
 

According to Raf Aviner, President of Kolmar Americas, Inc.: “In addition to our traditional businesses, Kolmar is dedicated to commercial development and optimization of leading-edge low carbon products and technologies. We are excited to align Kolmar’s global supply reach, logistics, and regulatory capabilities with GEVO’s Net-Zero 2 production of cutting-edge low carbon aviation and gasoline fuels to get these advanced, sustainable products to the varied global markets that need and want them the most.”
 

“With this agreement, Kolmar is investing in the future, and this kind of foresight makes for another excellent partner and should make clear to our investors that we have traction in the market,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer. “We have great potential in our business system to reinvent what is possible. Our system translates well because we actively address food security with the high-value nutritional products that our process generates simultaneously as we produce our advanced renewable fuels. Both products come from the same acre of farmland and add to our environmental benefit.”
 

The fuel supply agreement with Kolmar is subject to certain important terms and conditions. A copy of the fuel supply agreement with Kolmar has been filed with the U.S. Securities and Exchange Commission on Form 8-K.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

About Kolmar

Kolmar Americas, Inc. a wholly owned subsidiary of Kolmar Group AG, is a leading petrochemical, renewable fuels and liquid energy products trader and producer, headquartered in Shelton, Connecticut. Kolmar’s product slate includes crude oil to light petroleum derivatives, biodiesel, cellulosic fuels, renewable diesel, SAF, and biomass/circular carbon petrochemical feeds.  Kolmar Group AG is a global company with twenty offices worldwide and dedicated storage capacity located in the world’s main energy and chemicals hubs.

Learn more at Kolmar’s website: www.kolmargroup.com or contact press@kolmar-americas.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the fuel supply agreement with Kolmar, the estimated revenue that Gevo might earn from the Kolmar fuel supply agreement, Gevo’s estimated value of the fuel supply agreement with Kolmar, Gevo’s Net-Zero 2 project, Gevo’s ability to develop, finance and construct Net-Zero 2 using the fuel supply agreement with Kolmar, Gevo’s ability to produce renewable hydrocarbons, the attributes of Gevo’s products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

The Infinite Machine to Become a Movie with NFT Investors Help

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Popular Ethereum Book to Become a Feature Film with Financing by an NFT Collection

 

During the height of Covid lockdowns in 2020, an ex-Bloomberg digital asset and emerging market journalist named Camila Russo wrote a fast-paced, intriguing history of crypto-currency, which goes far to enhance the reader’s understanding of all the many crypto players. It accomplishes this with the entertainment value and intrigue that some have compared to Michael Lewis’ The Big Short.

The name of her book is The Infinite Machine: How an Army
of Crypto-hackers Is Building the Next Internet with Ethereum. There is a movie based on the book in the works. The producers are funding much of it by selling NFTs. The NFT collection will be released on December 14.

The Infinite Machine NFT Collection sale has two goals: to help fund the filming of the history of Ethereum and to use Ethereum’s underlying technology to surface artists from emerging nations, whose voices could benefit from amplification in the NFT space, but for whom NFTs have become a life-changing tool.

About the Collection

According to a press release dated December 6, the NFT collection, is a colorful explosion of Ethereum logos produced by emerging artists, offered at a flat price of 0.275 ETH, with a discount for whitelisted addresses, which will be mostly sourced from the project’s open Discord server. Holders will have the chance to receive movie-related perks linked to their NFTs, and future airdrops as production are underway.

It will be the first major NFT collection where at least 90% will represent the Ethereum octahedron. It’s also unique in its use for financing a related production and its aim to become a platform for global emerging artists.

 

Image: The works will feature the octahedron now most associated with the Ethereum logo

Artists

The Infinite Machine NFT Collection is a collaborative effort by 40 artists mainly from countries where decentralization has a major impact on residents lives and finances: Cuba, Argentina, Venezuela, Kenya, Australia, Bolivia, Chile, Colombia, Croatia, Honduras, India, Mexico, Spain, and the US. Each artist is creating a 1/1 piece representing their vision of Ethereum or decentralization values and 10 versions of the Ethereum logo. Each of the versions of the ETH logo is then divided into 4 quadrants to be programmatically combined with each other, creating 10,499 unique ETH logo mosaics representing the combined visions of these emerging artists.

 

The Movie

The Infinite Machine movie aims to be the first dramatized feature-length film about crypto, leveraging Ethereum technology and NFTs to fund its production and turn its audience into a community. With A-list actors, it aims to draw in a mainstream audience to cinemas and streaming services worldwide. The story behind Ethereum has all the elements needed for a blockbuster hit that will inspire the new generation.

The movie will be produced by Alejandro Miranda of Versus Entertainment, a Spanish audiovisual production and distribution company, and a US-based production company soon to be announced. Camila Russo, the book’s author and founder of DeFi content platform The Defiant, and Francisco Gordillo, co-founder of crypto hedge fund Avenue Investment, are executive producers. Russo, Gordillo and Miranda are spearheading the NFT collection, while Santiago Siri, founder of the UBI Protocol and hacktivist at the Democracy Earth initiative, is an advisor.

 

Sources:

https://www.theinfinitemachinemovie.com/

https://discord.com/channels/904414525783171122/904414525783171125

The Infinite Machine Movie & Collection Marketing Team

https://www.amazon.com/Infinite-Machine-Crypto-hackers-Building-Internet-ebook/dp/B07X8HS2WC

https://app.qwoted.com/press_releases/the-infinite-machine-nft-collection-to-drop-in-two-weeks

https://thedefiant.io/

https://www.theinfinitemachinemovie.com/

 

Stay up to date. Follow us:

 

Release – Gevo Inks Largest Supply Agreement To-Date for Renewable Fuels

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Gevo Inks Largest Supply Agreement To-Date for Renewable Fuels

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Dec. 07, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) has a new partner: Kolmar Americas Inc. (“Kolmar”). Kolmar and Gevo have entered into a financeable fuel supply agreement for 45 million gallons per year (on a neat basis) of renewable, energy-dense liquid hydrocarbons that are expected to be produced from Gevo’s second Net-Zero production facility, Net-Zero 2. Kolmar is a wholly owned subsidiary of Kolmar Group AG that is a privately held service provider, manufacturer, and marketer of renewable fuels headquartered in Zug, Switzerland.

The agreement with Kolmar demonstrates that Gevo is continuing to diversify its partner base geographically as it grows its presence on the global stage. The fuel supply agreement provides for Gevo to supply Kolmar with renewable hydrocarbons, including sustainable aviation fuel (“SAF”) and isooctane that is a key component of renewable premium gasoline.
 

Gevo expects to supply 45MGPY of renewable fuels to Kolmar from its Net-Zero 2 plant that is currently being developed in the Mid-West of the United States. Deliveries to Kolmar would represent the entire plant output based on Net-Zero 2’s current design. Under the fuel supply agreement, Net-Zero 2 is expected to generate approximately US$300 million per year of gross revenue, including revenue from environmental benefits. With protein and corn oil co-product sales, Net-Zero 2 is estimated to generate gross revenues of approximately US$350 million per year. Over the eight years of the agreement, Net-Zero 2 all-in, gross revenue is estimated to be up to approximately US$2.8 billion, inclusive of renewable fuels and related products for the food chain.
 

According to Raf Aviner, President of Kolmar Americas, Inc.: “In addition to our traditional businesses, Kolmar is dedicated to commercial development and optimization of leading-edge low carbon products and technologies. We are excited to align Kolmar’s global supply reach, logistics, and regulatory capabilities with GEVO’s Net-Zero 2 production of cutting-edge low carbon aviation and gasoline fuels to get these advanced, sustainable products to the varied global markets that need and want them the most.”
 

“With this agreement, Kolmar is investing in the future, and this kind of foresight makes for another excellent partner and should make clear to our investors that we have traction in the market,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer. “We have great potential in our business system to reinvent what is possible. Our system translates well because we actively address food security with the high-value nutritional products that our process generates simultaneously as we produce our advanced renewable fuels. Both products come from the same acre of farmland and add to our environmental benefit.”
 

The fuel supply agreement with Kolmar is subject to certain important terms and conditions. A copy of the fuel supply agreement with Kolmar has been filed with the U.S. Securities and Exchange Commission on Form 8-K.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

About Kolmar

Kolmar Americas, Inc. a wholly owned subsidiary of Kolmar Group AG, is a leading petrochemical, renewable fuels and liquid energy products trader and producer, headquartered in Shelton, Connecticut. Kolmar’s product slate includes crude oil to light petroleum derivatives, biodiesel, cellulosic fuels, renewable diesel, SAF, and biomass/circular carbon petrochemical feeds.  Kolmar Group AG is a global company with twenty offices worldwide and dedicated storage capacity located in the world’s main energy and chemicals hubs.

Learn more at Kolmar’s website: www.kolmargroup.com or contact press@kolmar-americas.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the fuel supply agreement with Kolmar, the estimated revenue that Gevo might earn from the Kolmar fuel supply agreement, Gevo’s estimated value of the fuel supply agreement with Kolmar, Gevo’s Net-Zero 2 project, Gevo’s ability to develop, finance and construct Net-Zero 2 using the fuel supply agreement with Kolmar, Gevo’s ability to produce renewable hydrocarbons, the attributes of Gevo’s products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

Release – Seanergy Maritime Announces $16.6 Million Buyback of Convertible Notes Warrants and Common Shares as well as Open-Market Stock Purchases by the CEO

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Seanergy Maritime Announces $16.6 Million Buyback of Convertible Notes, Warrants and Common Shares, as well as Open-Market Stock Purchases by the CEO

Research, News, and Market Data on Seanergy Maritime

 

Seanergy Maritime Announces $16.6 Million Buyback of
Convertible Notes, Warrants and Common Shares, as well as
Open-Market Stock Purchases by the CEO

Highlights:

  • Buyback of $13.95 million of Convertible Notes
  • Buyback of Warrant to purchase 4.3 million shares
  • Buyback of 1.6 million of common shares
  • Elimination of potential dilution by 17.5 million shares
  • CEO open market purchases of 0.3 million shares
  • Seanergy BOD approves new buyback plan of $10 million

December 7, 2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today an aggregate of $16.6 million in buyback and elimination of:
(i)     two outstanding convertible notes with 5.5% coupon and a conversion price of $1.20 per share (the “Notes”),
(ii)     the entire amount of warrants to purchase common shares at an exercise price of $0.70 (the “Warrant”) held by the holder of the Notes and
(iii)     buyback of common shares, fully utilizing its previously announced share repurchase plan.

Moreover, Seanergy’s Chairman & CEO, Stamatis Tsantanis, has purchased in 2021 to date an additional 300,000 of the Company’s common shares in the open market.

Following the completion of the previously announced repurchase plan, the Board of Directors has authorized an additional repurchase plan (the “Plan”), under which the Company may repurchase up to $10 million of its common shares, convertible notes or warrants.

Notes

The Company will buyback and eliminate the Notes with an aggregate outstanding principal of $13.95 million held by Jelco Delta Holding Corp. (“Jelco”) at their full-face value, without any prepayment cost or additional consideration. The prepayment is expected to take place on December 10, 2021.

Based on an exercise price of $1.20 per share, the buyback will pre-empt potential dilution of 11.63 million shares. In conjunction with the repurchase of the Notes the Company expects to record a non-cash accounting loss of approximately $6.75 million in the fourth quarter of 2021. However, since the Notes carry a fixed coupon of 5.5% p.a., the Company will realise annual interest savings of $767,250 per year. In addition, the prepayment will have a positive impact on the income statement for the subsequent periods through the elimination of non-cash charges of an average of $2.9 million per year.

Warrant

The Company is also buying back from the holder of the Notes their sole outstanding Warrant to purchase 4,285,714 million shares for $1,023,136.

Common Shares

Following the end of the blackout period associated with the issuance of the financial results of the third quarter of 2021 and to-date, the Company has repurchased 1,595,803 of its outstanding common shares at an average price of approximately $0.998 pursuant to its previously-announced share repurchase program.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“As previously communicated to our shareholders, these strategic transactions are aimed to enhance shareholder value, reduce potential dilution from outstanding share-linked instruments and eliminate legacy overhang on our share price. At the same time, we generate significant savings in interest expense.

“The completion of the first phase of our buyback program of common shares, convertible notes and warrants reflects our firm belief that our share price is significantly undervalued. In this context, I have also continued my open market purchases of Seanergy’s shares, which indicates my strong confidence in the Company and its fundamentals.

“Our strong balance sheet coupled with our fleet’s robust cash-flow generating capacity reinforce our Company’s ability to continue on the same path without compromising our solid liquidity position.”

Summary of Repurchases:

The following table summarizes the repurchases of the various instruments:

  Purchase price Price per share Shares
Warrants $1,023,136 $0.939** 4,285,714*
Note 1 $200,000 $1.200 166,666*
Note 3 $13,750,000 $1.200 11,458,333*
Common Shares $1,593,150 $0.998 1,595,803
Total / Average $16,566,286 $1.118 17,506,516

*Not issued: shares underlying convertible securities
**Including $0.70 warrant exercise price per share

The Plan

The Company may repurchase common shares in open-market transactions pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended, or pursuant to a trading plan adopted in accordance with Rule 10b5?1 of the Securities Exchange Act of 1934.

Any repurchases pursuant to the Plan will be made at management’s discretion at prices considered to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, applicable securities laws and the Company’s financial performance. The Plan may be suspended, terminated, or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Plan does not obligate the Company to purchase any of its shares, and the Company may repurchase other outstanding securities of the Company, including its outstanding convertible notes, under the Plan. The Board of Directors’ authorization of the Plan is effective immediately and expires on December 31, 2022.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566

Elon Musk Talks About Tesla Bots, Birth Rates, and Federal Incentives

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Tesla’s CEO Surprises Reporters with Views on Robots, Subsidies, and Longevity

 

The Wall Street Journal CEO Summit is billed as an opportunity for CEOs to exchange best practices along with honest and candid insight. Elon Musk, who spoke Monday at the summit, had previously been sharing his thoughts on Twitter leading up to the event, at times his talk surprised reporters and peers. Among his concerns for the future are low birth rates, longevity, and excessive EV subsidies.

 

Robots and Birthrates

The forward-looking Tesla CEO was giving an update on the Tesla Bot project and issued this dire warning, “If people don’t start to have more children, civilization is going to crumble. Mark my words,” Musk said. Within the context of the current labor shortage, Musk believes the Tesla Bot could be a solution. “It has the potential to be a general substitute for human labor over time. The foundation of the economy is labor. Capital equipment is essentially distilled labor. I asked a friend of mine what should we optimize for, and he said, “gross profit per employee” – fully considered so you’ve got to include the supply chain in that,” said Musk. He was also candid about their robotics saying that he doesn’t know when they will get the Bot trouble-free, but building a useful humanoid robot is already a Tesla division they are hiring for.

Musk who is the father of six children said, “I think one of the biggest risks to civilization is the low birth rate and the rapidly declining birthrate.”

 

Longevity

At the Summit Elon Musk also shared his thoughts on humans living much longer and some older workers. He said he doesn’t think people should “try to live for a super long time.” This idea is more important to him when it comes to semi-immortality, and those that make their living in politics. “I think it is important for us to die because most of the time, people don’t change their mind, they just die. If they live forever, then we might become a very ossified society where new ideas cannot succeed,” Musk said.

In recent Tweets, Musk has been vocal about age caps for holding public national office positions.

 

 

“I’m not poking fun at aging. I just am saying if we’ve got people in very important positions that have to make decisions that are critical to the security of the country, then they need to have sufficient presence of mind and cognitive ability to make those decisions well — because the whole country is depending on them,” Musk said Monday.

Spending Bill and EV Subsidies

About two-thirds of all battery-electric vehicles in the U.S. are Teslas. Over the past two years, these sales have been without the $7,500 federal tax credit. New tax federal tax credits can be as high as $12,500 on some cars. Musk said the Senate should not pass the $2 trillion Build Back Better Act. It removes the limit of 200,000 EV deliveries per manufacturer and increases the incentives but that only applies if the electric vehicles are coming from US factories that are unionized. During his response, his concerns seemed more about the high federal expenditures than anything specifically related to the treatment of his car company versus the treatment of others. “Honestly, it might be better if the bill doesn’t pass. We’ve spent so much money, the federal budget deficit is insane. It’s like $3 trillion. Federal expenditures are $7 trillion. Federal revenues are $3 trillion. If it was a company, it would be a $3 trillion dollar loss. I don’t know we should be adding to that loss. Somethings gotta give. You can’t just spend $3 trillion more than you own every year and don’t expect something bad to happen,” Musk said.

 

Take-Away

One doesn’t become a self-made billionaire and then achieve richest person-in-the-world status by thinking like everyone else. Open forums of thought like the Wall Street Journal CEO Summit help, and even short Tweets help better understand the mindsets of those in positions that are helping to shape tomorrow’s world.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



The Gas Tax’s History Shows How Hard it is to Fund Infrastructure Spending

With Ford’s Electric F-150 Pickup, the EV Transition Shifts into High Gear





Will Uranium, Natural Gas, and Coal be Severely Impacted by EU Taxonomy

ESG Investors May Have Missed What’s Happening with Green Chemical Companies

 

Sources:

https://ceocouncil.wsj.com/videos/

https://youtu.be/lSD_vpfikbE

https://www.yahoo.com/news/elon-musk-says-not-enough-070626755.html

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Release – Voyager Digital Partners with CoinLedger to Streamline and Simplify Crypto Tax Reporting

Posted on by Admin

 


Voyager Digital Partners with CoinLedger to Streamline and Simplify Crypto Tax Reporting

Research, News, and Market Data on Voyager Digital

 

Leading Crypto and Tax Platforms Integrate to Give Users Ability to Track Cost Basis and Report Taxes

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced it is partnering with CoinLedger (a rebranding of CryptoTrader.Tax) to facilitate capital gains, losses, and income tax reporting for users.

“We are excited to join forces with the CoinLedger team and be at the forefront of the evolving crypto landscape by bringing a more simplified cryptocurrency tax reporting experience to all Voyager customers. This is one of several initiatives we are rolling out as we continue to stay focused on adding value to the Voyager user ecosystem,” said Steve Ehrlich, CEO and co-founder of Voyager.

The interoperable nature of cryptocurrencies and digital assets, with transfers into and out of platforms such as Voyager, can create tax challenges for users, especially when it comes to tracking cost basis—which is necessary for capital gains tax reporting. CoinLedger, a leading tax-reporting platform for cryptocurrency, DeFi, and NFT users, addresses this by integrating directly with leading exchanges, wallets, and blockchains to allow any cryptocurrency user to track their digital-asset transaction history across the crypto-economy.

Voyager customers will be able to use the CoinLedger platform as early as the upcoming 2021 tax year to import their cryptocurrency transactions and get capital gains, losses, and income reports. These reports can be imported into tax filing software such as TurboTax or sent off to tax professionals to facilitate easier tax filing.

“Voyager is forward-thinking when it comes to user experience,” said David Kemmerer, CEO and co-founder of CoinLedger. “Early on, the Voyager team realized that relying solely on blanket Form 1099 information reporting may not be sufficient to help customers report and file their crypto taxes. We’re excited to bring CoinLedger’s tax reporting solutions to the Voyager ecosystem and further enhance the user experience of the platform by making tracking and filing taxes easier for its customers.”

About Voyager Digital Ltd.

Voyager Digital Ltd. (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 65 different crypto assets using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

About CoinLedger

CoinLedger (a rebranding of CryptoTrader.Tax) enables seamless portfolio tracking and tax reporting for participants of the digital asset economy. Founded in 2017, CoinLedger was built to reduce the friction of participating in the cryptocurrency ecosystem by making tax reporting as simple as possible. By directly integrating with major exchanges, wallets, blockchains, and NFT platforms, CoinLedger provides a unified dashboard for users to track and monitor their cryptocurrency activity. Whether you’re trading cryptocurrencies, buying and selling NFTs, or staking on DeFi protocols, CoinLedger makes tracking your portfolio and reporting your taxes more straightforward than ever. For more information, visit https://cryptotrader.tax/world-meet-coinledger.

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.

Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

CoinLedger

Amy Camp
CoinLedger Communications
202-270-1783  
Amy@CoinLedger.io