In November, 2020 the (CTRM) Castor Maritime Inc. SqueezeTrigger Price was $0.16. If you had purchased CTRM, the trade would have gained 1,453.77% as of today's price of $2.41.
$CTRM Castor Maritime Inc. Announces Completion of a $40.75 Million Debt Financing
Limassol, Cyprus, July 28, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces the closing and drawdown of a $40.75 million senior term loan facility with a European bank (the “$40.75 Million Financing”), through four of its dry bulk vessel shipowning entities. The Company intends to use the net proceeds from the $40.75 Million Financing for general corporate purposes, including supporting the Company’s growth plans.
The $40.75 Million Financing has a tenor of five years and bears interest at LIBOR plus 3.10% per annum.
Mr. Petros Panagiotidis, Chief Executive Officer of Castor commented:
“We are happy to announce the closing of this significant new financing, provided by one of our existing lenders and secured by our dry bulk vessels M/V Magic Thunder, M/V Magic Nebula, M/V Magic Eclipse and M/V Magic Twilight. We believe that by increasing our low leverage position, we are improving our capital structure and enhancing our ability to fund our growth plans.
Finally, we announce that under our At-The-Market common stock offering program we have sold to date 3,563,407 common shares raising net proceeds of $9.7 million, with no sales having taken place in July 2021.”
About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.
On a fully delivered basis, Castor will own a fleet of 26 vessels, with an aggregate capacity of 2.2 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 10 Panamax dry bulk vessels, as well as 1 Aframax, 5 Aframax/LR2 and 2 MR1 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions.
For more information please visit the Company’s website at www.castormaritime.com
Information on our website does not constitute a part of this press release.
I told you it would drop back to under a dollar
Absolute joke. Red everyday and getting close to the RSPrice. What a joke.
this chart looks like shit when it hits 1.95 lookout below 100% gain what a joke
CTRM~~chart reversal soon https://stockcharts.com/freecharts/gallery.html?ctrm
Ctrm great ss,89M O/S
do you need me to comfort you or something?
They beat the odds because this company has a ton of assets and is backed by a Super Rich family.
Seems to be on solid ground, now. Beat the odds with the reverse split, whereas most stocks go into freefall afterward.
Ctrm claims to have 9 million O/S. I highly doubt that there is only nine million O/S. Look at yesterday volume and today’s trade volume. It’s obvious the company is being dis honest to the accurate O/S shares....don’t trust this company... they can’t even honestly tell how many O/S there really are
Can anyone confirm these ships are being purchased?
Due to reverse stock split the shares of company in the market are reduced which in turn makes it harder for any trader to short sell the stock because short selling is done for those stocks which are very liquid as it is easy to borrow such stocks and traders have confidence that in case of stock price rise they can square off the position due to good liquidity, however when stock is illiquid they will think before shorting the stock and hence in a way reverse stock split reduces speculation in the stock price and only serious investors buy or sell the share.
Buy when it fall back down to pre split levels
Vast majority they fall back to the price it was pre split level and you are left with far less shares at the lower price.
This stock should have skyrocketed by now. They must be dilluting, or something.
Look at TOPS. It's actually bottomed out, and looks like it's starting to rebound. DSSI has done well.
There is really no need for the r/s, unless they are just bored. It really pisses people off and is bad PR.
This may be one of those unique cases where the r/s is ok. Let's keep our fingers crossed.
A little confusing. Does that mean you bought more stock after the split?
Massive dump next week will go below a $
they'll print more shares first