May 8, 2020 - Athens, Greece - Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (“SHIP” or the “Company”) today announced the results of its successful recent capital raising transactions.

In recent weeks, SHIP has undertaken a series of equity raisings beginning with an underwritten public offering which priced on March 31, 2020. Through this capital markets activity, the Company has raised approximately $30 million in gross proceeds. Based on this positive outcome, it is SHIP’s intention to pause its capital markets participation for the near term, although the Company will continue to monitor market activity in the future.

Stamatis Tsantanis, SHIP’s Chairman & Chief Executive Officer, stated:
“We are pleased to announce the successful closing of our most recent registered direct offering, which represents the culmination of our recent capital raising transactions. As a result of strong institutional interest, we raised more than $30 million and have further strengthened our balance sheet. This capital is highly accretive to our net asset value.”
“Our sector is emerging from a period of historical low rates, and as a result of our capital raising program, we believe Seanergy is in a strong position to capitalize on the improving market
fundamentals.”

Following SHIP’s capital markets activity since the end of March, SHIP’s pro-forma capitalization table is as follows: