ICON Energy Corp. Announces Pricing of Upsized $12.0 Million Public Offering

Core Points - Icon Energy Corp. announced a public offering of 9,160,305 units at a price of $1.31 per unit, which includes one common share and one warrant to purchase one common share [1][2] - The offering is expected to generate approximately $12.0 million in gross proceeds before expenses, with the funds intended for general corporate purposes, including working capital, debt repayments, and fleet expansion [2] - The offering is set to close on January 24, 2025, subject to customary closing conditions [2] Offering Details - Each warrant is immediately exercisable at an initial price of $2.62 per common share and will expire three years after issuance [2] - The exercise price of the warrants will be adjusted downward based on the closing price of Icon's common shares on the Nasdaq Capital Market [2] - The common shares and warrants will be issued separately but must be purchased together in this offering [2] Company Overview - Icon Energy Corp. is an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes through its fleet of oceangoing vessels [6] - The company is headquartered in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol "ICON" [6]