Reverse Splits

[sludgehound]

FREE 1:2 to 1:50 R/S Annual Meeting

These guys will be in serial range now. Will be 5th after 5/11/2015 1:7.5 23.6M O/S now. Prior 4 small sizes too.
June 18, 2015 16:30 ET | Source: FreeSeas Inc. Athens, Greece, June 18, 2015 (GLOBE NEWSWIRE) -- June 18, 2015 - FreeSeas Inc. (Nasdaq: FREE) ("FreeSeas" or the "Company" ), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that at the annual meeting of the Company's shareholders held on June 12, 2015, the shareholders: (i) re-elected Mr. Xenophon Galinas to the Board of Directors for another three year term; (ii) ratified the appointment of RBSM LLP, as our independent registered public accounting firm for the fiscal year ending December 31, 2015; and (iii) granted discretionary authority to the Company's board of directors to (A) amend the Amended and Restated Articles of Incorporation of the Company to effect one or more consolidations of the issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into one share of common stock at a ratio within the range from 1-for-2 up to 1-for-50 (the "Reverse Stock Split") and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Company's transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number, provided that, (X) that the Company shall not effect Reverse Stock Splits that, in the aggregate, exceeds 1-for-50, and (Y) any Reverse Stock Split is completed no later than the first anniversary of the date of the Annual Meeting. - See more at: http://globenewswire.com/news-release/2015/06/18/745794/10139011/en/FreeSeas-Inc-Announces-Results-of-Annual-Meeting-of-Shareholders.html#sthash.kvRHYFvF.dpuf