SHIP Stamatis Tsantanis, CEO of Seanergy commented: "We are very pleased to announce another important transaction for the Company, which should result in significant accretion for our shareholders. Not only are we growing our fleet but we are streamlining our capital structure to be in a position to further capitalize on a strengthening dry bulk market. In the past six months Seanergy has successfully raised funds from the equity capital markets and used this capital for highly accretive and productive purposes to grow its platform and enhance shareholder value: We acquired two high-quality Capesize vessels at what we believe to be the lowest value paid by any of our public peers for similar ships in the last 5 years and grew our fleet's cargo-carrying capacity by 30%.
We agreed to the foregoing material reduction of one of our credit facilities that should have a direct positive effect on our capital structure resulting in $11.4 million in equity gains for our shareholders.
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