Replies to post #316 on Seanergy Maritime Holdings Corp. (SHIP)

[investorwisdom]

probably because they are about to break the debt covenants, because with the current BDI market in the dumps, the ship values have to be reduced. I would imagine this is the reason, they will need to raise the cash position, and don't see any other way than adding shares, they see the iceberg coming and are making the proper maneuvers.

[TheInvisibleHand ™]

Iwisdom, Its good to see you are long, I haven't been around this thread so i was reading your old messages and some of the statements were not factual based on my dd so I was confused.

Dumar there are many reasons to increase authorized, I gave the post about Warrant Conversion as one. The point is A/S and not O/S they would need a vote before any of this would hit the market. The strike prices though at some might if the warrants get exercised at 6.50 or 12.50 warrants for example. Those warrants can be converted to shares but as you see by strike prices at a much high premium