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

Public Offering Details - Icon Energy Corp closed its public offering of 9,160,305 units at a price of $1.31 per unit, with each unit consisting of one common share and one warrant to purchase one common share [1] - The gross proceeds from the offering were $12.0 million before deducting placement agent's fees and other offering expenses [2] - The net proceeds will be used for general corporate purposes, including working capital needs, debt repayments, and fleet expansion [2] Offering Structure and Participants - The common shares and warrants were purchased together but issued separately and were immediately separable upon issuance [2] - Maxim Group LLC acted as the sole placement agent for the offering [3] Regulatory and Legal Information - A registration statement on Form F-1 was filed with the SEC and declared effective on January 23, 2025 [4] - The final prospectus related to the offering was filed with the SEC and is available on the SEC's website [4] Company Overview - Icon Energy Corp is an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels [6] - The company maintains its principal executive office in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol "ICON" [6] Forward-Looking Statements - The company's forward-looking statements are based on various assumptions, including historical operating trends and data from third parties, but actual results could differ materially due to risks and uncertainties [6] - Factors that could cause actual results to differ include future operating or financial results, liquidity, changes in shipping industry trends, and broader market impacts from war or pandemics [7]