Seanergy Maritime Holdings Corp.
Unaudited Condensed Consolidated Cash Flow Data
(In thousands of U.S. Dollars, except for share and
per share data, unless otherwise stated)
Nine months ended
September 30,
---------------------
2024 2023
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Net cash provided by operating activities 55,434 11,050
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Vessels acquisitions and improvements (34,191) (146)
Advance for vessel acquisition (7,100) -
Finance lease prepayments and other initial
direct costs (305) (3,500)
Proceeds from sale of assets - 23,910
Deposits assets, non-current - 1,325
Other fixed assets, net - (176)
-------- -------
Net cash (used in) / provided by investing
activities (41,596) 21,413
-------- -------
Proceeds from long-term debt and other
financial liabilities 58,279 53,750
Repayments of long-term debt and other
financial liabilities (49,829) (79,374)
Payments of finance lease liabilities (1,635) -
Repayments of convertible notes - (8,000)
Payments of financing and stock issuance
costs (1,810) (1,318)
Payments for repurchase of common stock (2,709) (1,583)
Dividend payments (5,600) (5,539)
Payments for repurchase of warrants - (808)
Payments for fractional shares of reverse
stock split - (23)
Proceeds from issuance of common stock and
warrants, net of underwriters fees and
commissions 5,823 -
-------- -------
Net cash provided by / (used in) financing
activities 2,519 (42,895)
-------- -------
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for interest 14,891 13,652
Noncash investing activities
Vessels acquisitions and improvements 123 -
Noncash financing activities
Dividends declared but not paid 5,150 491
Financing and stock issuance costs 1,473 -
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company's operating fleet consists of 19 vessels (1 Newcastlemax and 18 Capesize) with an average age of approximately 13.5 years and an aggregate cargo carrying capacity of approximately 3,417,608 dwt.
The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol "SHIP".
Please visit our Company website at: www.seanergymaritime.com.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the declaration of dividends, market trends and shareholder returns. Words such as "may", "should", "expects", "intends", "plans", "believes", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between Israel and Hamas or Iran and between Russia and Ukraine; risks associated with the length and severity of pandemics (including COVID-19), including their effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company's filings with the SEC, including its most recent annual report on Form 20-F. The Company's filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1540
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8272e49a-88b8-4539-9b96-98071aaaa1da
(END) Dow Jones Newswires
November 05, 2024 09:00 ET (14:00 GMT)
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