FreeSeas Receives Nasdaq Listing Determination; Intends to Request Hearing
10 3월 2016 - 9:46AM
Athens, Greece, March 8, 2016 -- FreeSeas
Inc. (FREE) (“FreeSeas” or the “Company”), a transporter of
dry-bulk cargoes through the ownership and operation of a fleet of
Handysize vessels and an owner of a controlling stake in a company
commercially operating tankers, announced today that on March 2,
2016, the Company received notice from the Listing Qualifications
Staff of The NASDAQ Stock Market LLC (the “Staff”) indicating that
unless the Company timely requests a hearing before the Nasdaq
Listing Qualifications Panel (the “Panel”), its securities would be
subject to delisting from The Nasdaq Capital Market based upon its
non-compliance with the minimum bid price requirement, as set forth
in Nasdaq Listing Rule 5550(a)(2), and concerns raised by the
Staff, pursuant to the Staff’s discretionary authority under Nasdaq
Listing Rule 5101, regarding the Company’s ability to remedy the
bid price deficiency in light of dilution that may occur from
financing transactions.
The Company intends to timely request a hearing
before the Panel, at which hearing it will present its plan to
regain and sustain compliance with the bid price requirement and
otherwise address the Staff’s concerns in connection therewith. The
Company’s request for a hearing will stay any delisting action and
the Company’s common stock will continue to trade on The Nasdaq
Capital Market at pending the issuance of the Panel’s decision
following the hearing and the expiration of any extension granted
by the Panel.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation
with principal offices in Athens, Greece. FreeSeas is engaged in
the transportation of drybulk cargoes through the ownership and
operation of drybulk carriers and also is an owner of a controlling
stake in a company commercially operating tankers. Currently, it
has a fleet of Handysize vessels. FreeSeas' common stock trades on
the Nasdaq Capital Market under the symbol FREE. Risks and
uncertainties are described in reports filed by FreeSeas Inc. with
the SEC, which can be obtained free of charge on the SEC's website
at http://www.sec.gov. For more information about FreeSeas Inc.,
please visit the corporate website, www.freeseas.gr.
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 and the Company's growth
strategy and measures to implement such strategy. Words such as
''expects,'' ''intends,'' ''plans,'' ''believes,'' ''anticipates,''
''hopes,'' ''estimates,'' and variations of such words and similar
expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to be correct. 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, changes in the demand
for dry bulk vessels; competitive factors in the market in which
the Company operates; risks associated with operations outside the
United States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligation 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.
Contact Information:At
the Company
FreeSeas Inc.Dimitris Papadopoulos, Chief
Financial Officer011-30-210-45-28-770Fax:
011-30-210-429-10-10dp@freeseas.grwww.freeseas.gr
Freeseas (NASDAQ:FREEZ)
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부터 11월(11) 2024 으로 12월(12) 2024
Freeseas (NASDAQ:FREEZ)
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부터 12월(12) 2023 으로 12월(12) 2024
