Core Viewpoint - C3is Inc. has successfully closed a public offering, raising approximately $9 million to support its capital expenditures and general corporate purposes [1][3]. Offering Details - The offering consisted of 7,500,000 units, each including either one Common Share or one Pre-Funded Warrant, along with Class D and Class E Warrants [2]. - The public offering price was set at $1.20 per unit for Common Shares and $1.19999 per unit for Pre-Funded Warrants, with the Pre-Funded Warrants being immediately exercisable [2]. - Class D Warrants have an initial exercise price of $1.20 and are exercisable immediately, expiring 60 months after issuance [2]. - Class E Warrants have an exercise price of $0.00001 and are also immediately exercisable [2]. Use of Proceeds - The net proceeds from the offering will be utilized for capital expenditures, including the acquisition of additional vessels, working capital, and other general corporate purposes [3]. Company Overview - C3is Inc. is a ship-owning company that provides dry bulk and crude oil seaborne transportation services, owning four vessels with a total fleet capacity of 213,464 deadweight tons [6].

Company Performance - Rezolute, Inc. (NASDAQ:RZLT) experienced a dramatic stock price drop to $1.32, reflecting an 87.93% decrease due to a failed Phase 3 study and subsequent investigation by Holzer & Holzer, LLC [1][6] - Oriental Culture Holding Ltd. (NASDAQ:OCG) saw its stock price decline to $1.57, an 81.95% decrease, potentially influenced by its unaudited financial results for the first half of 2025 [2][6] - C3is Inc. (NASDAQ:CISS) reported a stock price drop to $0.34, a 79.82% decrease, amid broader industry challenges and its financial results for the third quarter [3][6] - GRI Bio, Inc. (NASDAQ:GRI) faced a 54.70% decline in stock price to $0.54, linked to its public offering announcement of $8 million [4][6] - Thunder Power Holdings, Inc. (OTCQB:AIEV) saw its stock price decrease to $0.14, a 49.58% drop, as it reported third-quarter results and plans for asset integration and renewable energy expansion [5] Market Trends - The significant price movements across various sectors, including biotechnology, e-commerce, marine shipping, and electric vehicle manufacturing, indicate heightened volatility in the market [5] - Factors contributing to these declines include company-specific news such as earnings reports and strategic decisions, as well as broader market trends and economic indicators [5]

Core Points - C3is Inc. announced a public offering expected to generate approximately $9 million in gross proceeds before expenses [1][3] - The offering consists of 7,500,000 units, each including one Common Share or one Pre-Funded Warrant, along with Class D and Class E Warrants [2] - The transaction is anticipated to close on or about December 12, 2025, subject to customary closing conditions [3] Offering Details - Each unit in the offering is priced at $1.20 for a Common Share and $1.19999 for a Pre-Funded Warrant, with the Pre-Funded Warrants being immediately exercisable [2] - Class D Warrants have an initial exercise price of $1.20 per Common Share and are exercisable immediately, expiring 60 months after issuance [2] - Class E Warrants have an exercise price of $0.00001 per Common Share and are also immediately exercisable [2] Use of Proceeds - The net proceeds from the offering will be used for capital expenditures, including the acquisition of additional vessels, working capital, and other general corporate purposes [3] Company Overview - C3is Inc. is a ship-owning company that provides dry bulk and crude oil seaborne transportation services, owning four vessels with a total fleet capacity of 213,464 deadweight tons [6]

Table of Contents As filed with the Securities and Exchange Commission on December 5, 2025. Registration No. 333-290011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Amendment No. 2 To Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 C3IS INC. (Exact name of registrant as specified in its charter) Republic of the Marshall Islands 4412 N/A (State or other jurisdiction of incorporation or organization) Puglisi & Associates 850 Library Avenue, Suite 204 Newark, Delaware ...

Financial Performance - Revenues for Q3 2025 were $4.8 million, a decrease of 48% from $9.3 million in Q3 2024, with a daily TCE of $8,733, down 33% year-over-year[5] - Net Income for Q3 2025 was $2.7 million, with EPS of $2.32, compared to an Adjusted Net Loss of $3.4 million for the same period last year[9] - For the nine months ended September 30, 2025, Voyage Revenues totaled $24.2 million, down 26% from $32.9 million in the same period of 2024[8] - Adjusted EBITDA for Q3 2025 was ($1.8) million, down from $2.2 million in Q3 2024[9] - Net income for Q3 2024 was $5,074,563, while adjusted net income for Q3 2025 showed a loss of $3,417,737[28] - EBITDA for Q3 2024 was $6,967,088, compared to $4,248,573 in Q3 2025, indicating a decline in operational performance[28] - Q3 2025 revenues decreased to $4,793,998 from $9,265,750 in Q3 2024, representing a decline of 48.3%[32] - Total revenues for the first nine months of 2025 were $24,202,003, down from $32,884,955 in the same period of 2024, a decrease of 26.4%[32] - Q3 2025 net income was $2,671,497, compared to a net income of $5,074,563 in Q3 2024, reflecting a decline of 47.4%[32] - The company reported a loss from operations of $(3,526,786) in Q3 2025, compared to a profit of $395,714 in Q3 2024[32] Operational Metrics - Fleet operational utilization was 67.7% for Q3 2025, significantly lower than 90.2% in Q3 2024, primarily due to dry-docking of the Aframax tanker[6] - Average number of vessels remained stable at 4.00 for both Q3 2024 and Q3 2025, with fleet utilization at 100.0% in Q3 2024 and 93.5% in Q3 2025[21] - Total charter days for the fleet increased from 612 in 9M 2024 to 695 in 9M 2025, suggesting a slight improvement in operational activity[21] - The company reported a total of 368 calendar days for the fleet in Q3 2024, consistent with Q3 2025, indicating stable fleet availability[21] - Fleet operational utilization decreased from 90.2% in Q3 2024 to 67.7% in Q3 2025, indicating reduced efficiency in revenue generation[21] Expenses and Cash Flow - Voyage expenses in Q3 2025 were $1,729,366, down from $4,342,258 in Q3 2024, a reduction of 60.2%[32] - General and administrative expenses increased to $498,683 in Q3 2025 from $267,267 in Q3 2024, an increase of 86.5%[32] - The company reported a cash and cash equivalents balance of $6.6 million as of September 30, 2025[5] - The company generated $20,211,823 in net cash from operating activities for the nine months ended September 30, 2024, which decreased to $5,432,150 in 2025[35] - C3is Inc. experienced a decrease in cash and cash equivalents at the end of the period, dropping from $8,016,402 in 2024 to $1,413,971 in 2025[35] Capital Expenditures and Investments - Total capital expenditures for the company reached $59.2 million, fully funded without bank loans, related to vessel acquisitions[5] - The company incurred a net cash used in financing activities of $19,479,080 in 2024, which reduced to $11,245,328 in 2025[35] - The company reported a depreciation expense of $4,876,413 for the nine months ended September 30, 2025, up from $4,552,180 in 2024[35] Market and Growth Initiatives - The company reported a revenue of $2.5 billion for Q3 2023, representing a 15% year-over-year increase[36] - User base grew to 10 million active users, a 20% increase compared to the previous quarter[36] - The company provided guidance for Q4 2023, expecting revenue to be between $2.7 billion and $2.9 billion, indicating a growth of 8% to 16%[36] - New product launch scheduled for Q1 2024, anticipated to contribute an additional $500 million in revenue[36] - Investment in R&D increased by 25% year-over-year, totaling $300 million for the quarter[36] - Market expansion efforts in Europe resulted in a 30% increase in sales in that region[36] - The company completed an acquisition of a tech startup for $150 million, aimed at enhancing product offerings[36] - Customer retention rate improved to 85%, up from 80% in the previous quarter[36] - The company plans to implement a new marketing strategy, projected to increase brand awareness by 40%[36] - Operating margin improved to 18%, up from 15% in the previous quarter[36] Financial Position - The company has maintained a debt-free balance sheet, enhancing financial flexibility amid market uncertainties[11] - The total current assets increased to $16,339,358 as of December 31, 2024, compared to $9,967,837 as of September 30, 2025[34] - The company reported a total of $10,048,489 in total assets as of December 31, 2024, reflecting a growth from $9,241,229 as of September 30, 2025[34] - C3is Inc. had a total liabilities of $29,127,990 as of December 31, 2024, compared to $27,008,869 as of September 30, 2025[34]

Financial Performance - For the first 9 months of 2025, the company achieved a net income of $5.26 million, a significant increase of 281% compared to a net loss of $3 million for the same period in 2024 [5]. Revenue Insights - The company's voyage revenues experienced a decrease, although specific figures were not provided in the available text [5].

C3is (NasdaqCM:CISS) Q3 2025 Earnings Call November 18, 2025 10:00 AM ET Company ParticipantsNina Pyndiah - CFODiamantis Andriotis - CEOOperatorGood day, and thank you for standing by. Welcome to the C3is Q3 2025 Financial and Operating Results Conference call. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Diamantis Andriotis. Please go ahead, sir.Diamantis AndriotisGood ...

Financial Data and Key Metrics Changes - For the first nine months of 2025, the company achieved a net income of EUR 5.26 million compared to a net loss of EUR 3 million for the same period in 2024, an increase of 281% [3] - EBITDA for the same period was EUR 10 million, up from EUR 3 million in 2024, representing an increase of 245% [3] - Voyage revenues decreased by 24% to EUR 24.2 million compared to EUR 32.9 million in 2024, primarily due to the dry docking of the Haframx II tanker [3][14] - Time charter equivalent rates dropped by 40% compared to the same period in 2024 [3][14] - The company reported a cash balance of EUR 6.6 million, down 48% from EUR 12.6 million at the end of 2024 [19] Business Line Data and Key Metrics Changes - Voyage costs for the first nine months of 2025 were EUR 9.4 million, a decrease from EUR 10.4 million in 2024, attributed to fewer voyage days due to dry docking [15] - Operating expenses for the same period were EUR 7 million, with crew expenses accounting for 50% of total operating expenses [17] - General and administrative costs decreased to EUR 2 million from EUR 2.5 million in 2024 [17] Market Data and Key Metrics Changes - The dry bulk trade showed resilience, with strong iron ore volumes to China and a potential rebound in coal trade expected in 2026 [4][5] - The grain trade experienced a boom in Q3, driven by high volumes of Brazilian soybeans purchased by China [5] - The handy-sized fleet now stands at 3,202 vessels, with 17.8% over 20 years of age [7][8] Company Strategy and Development Direction - The company aims for disciplined growth with a focus on acquiring quality non-Chinese-built vessels and maintaining a debt-free balance sheet [20][21] - The strategy includes securing favorable charters with high-quality customers such as commodity traders and oil producers [20][21] - The company has repaid all CapEx obligations totaling EUR 59.2 million without resorting to bank loans [21] Management Comments on Operating Environment and Future Outlook - The CEO noted that the shipping market remains uncertain due to geopolitical factors, but major economies are still growing and trade volumes are rising [23] - The company has built resilient foundations adaptable to changing market dynamics and will continue to explore new growth opportunities [24] Other Important Information - The company completed the dry docking of the Aframax tanker, the Afrapearl II, in August 2025 [22] - None of the vessels were built in Chinese shipyards, mitigating the impact of U.S. tariffs on the fleet [20][13] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.

Financial Data and Key Metrics Changes - For the first nine months of 2025, the company achieved a net income of EUR 5.26 million, a significant increase of 281% compared to a net loss of EUR 3 million for the same period in 2024 [3] - EBITDA for the same period was reported at $10 million, up 245% from $3 million in 2024 [4] - Voyage revenues decreased by 24% to $24.2 million compared to $32.9 million in 2024, primarily due to the dry docking of the Haframx II tanker [14] Business Line Data and Key Metrics Changes - The time charter equivalent rates for vessels dropped by 40% compared to the same period in 2024, impacting overall voyage revenues [3][14] - Voyage costs decreased to $9.4 million from $10.4 million in 2024, attributed to fewer voyage days due to the dry docking of the Haframx II tanker [14][15] Market Data and Key Metrics Changes - The dry bulk trade showed resilience, with strong iron ore volumes to China and a potential rebound in coal trade expected in 2026 [4][5] - The grain trade experienced a boom in Q3, driven by increased Brazilian soybean purchases by China, resulting in a 35% decline in US exports by the end of Q3 [5] Company Strategy and Development Direction - The company aims for disciplined growth through selective acquisitions of quality non-Chinese-built vessels, focusing on short to medium-term charters and spot voyages [18][19] - The strategy includes maintaining a high-quality fleet to reduce operating costs and improve safety, which provides a competitive advantage [18] Management's Comments on Operating Environment and Future Outlook - The management noted that the shipping market remains uncertain due to geopolitical factors, but major economies continue to grow, and trade volumes are rising [20][21] - The company has built resilient foundations adaptable to changing market dynamics and plans to enhance its core businesses while exploring new growth opportunities [21] Other Important Information - The company reported a cash balance of $6.6 million, down 48% from $12.6 million at the end of 2024, primarily due to the settlement of the EcoSpeedFire purchase [17] - A warrant liability of EUR 3.9 million was recorded, a decrease of 63% from the previous year [18] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.

Q3 & 9M 2025 Financial & Operating Results November 18, 2025 C3is Inc. 1 This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "intends," and similar expressions are intended t ...