Athens: NYSE-listed Costamare aims to raise up to $115m through an issue of 4m shares of its 8.75% Series D cumulative redeemable perpetual preferred stock, which have been priced at $25 per share.
The company’s underwriters have a 30-day option to purchase up to an additional 600,000 shares of the stock, which Costamare intends to list on the New York Stock Exchange.
Costamare says it plans to use the net proceeds of the offering for vessel acquisitions or investments and for general corporate purposes.
Morgan Stanley & Co, UBS Securities, Credit Suisse Securities (USA), J.P. Morgan Securities and Stifel are acting as joint book-running managers.
The offering is expected to close on or about May 13.
