Reverse Splits

[sludgehound]

FREE 1:50 at open 6/26 Freeseas. serial

This is 5th one. Largest one, stats at very bottom here.

4:30pm ET
Athens, Greece, June 25, 2015 (GLOBE NEWSWIRE) -- June 25, 2015 --FreeSeas Inc. (FREE) ("FreeSeas" or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessel and an owner of a controlling stake in a company commercially operating tankers, announced today that the Company's Amended and Restated Articles of Incorporation are being amended to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio of one new share for every 50 shares currently outstanding.

The Company anticipates that its common stock will begin trading on a split-adjusted basis when the market opens on June 26, 2015. FreeSeas' common stock will continue to trade under the symbol "FREE." The common shares will also trade under a new CUSIP number Y26496193.

The reverse stock split will consolidate 50 shares of common stock into one share of common stock at a par value of $.001 per share. The reverse stock split will not affect any shareholder's ownership percentage of FreeSeas' common shares, except to the limited extent that the reverse stock split would result in any shareholder owning a fractional share. Fractional shares of common stock will be rounded up to the nearest whole share.

After the reverse stock split takes effect, shareholders holding physical share certificates will receive instructions from American Stock Transfer and Trust Company LLC, the Company's exchange agent, regarding the process for exchanging their shares.


About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and operation of drybulk carriers and also is an owner of a controlling stake in a company commercially operating tankers. Currently, it has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq Capital Market under the symbol FREE. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the SEC, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, www.freeseas.gr.

FREE Security Details
Share Structure
Market Value1 Not Available
Authorized Shares Not Available
Outstanding Shares 23,621,646 a/o May 11, 2015
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value Not Available

Transfer Agent(s)

Shareholders
Shareholders of Record Not Available

Corporate Actions Ex. Date Record Date Pay Date

Dividends are not adjusted for stock splits

Security Notes
•Capital Change=shs decreased by 1 for 5 split Pay date=10/01/2010.
•Capital Change=shs decreased by 1 for 10 split Ex-date=02/14/2013.
•Capital Change=shs decreased by 1 for 5 split Ex-date=12/02/2013.
•Capital Change=shs decreased by 1 for 7.5 split. Ex-date=05/11/2015.