Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that it plans to offer 7,000,000 shares of its common stock. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have indicated their intention to purchase up to 700,000 shares in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,050,000 additional shares of its common stock.
The Company plans to use the net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes, which may include repayments of indebtedness.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are acting as joint book-running managers of the offering, which will be made under an effective shelf registration statement.
The offering is being made only by means of a prospectus supplement and accompanying base prospectus. When available, the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, email: firstname.lastname@example.org, or Goldman, Sachs & Co., 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: email@example.com.This release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Costamare Inc. Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The Company has 37 years of history in the international shipping industry and a fleet of 57 containerships, with a total capacity of approximately 329,000 TEU, including 10 newbuilds on order. The Company’s common shares trade on the New York Stock Exchange under the symbol “CMRE.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts