C3is Inc. announces 1-for-6 reverse stock split to meet Nasdaq standards

The company’s forward-looking statements suggest confidence in meeting Nasdaq’s continued listing standards. However, they acknowledge inherent uncertainties and contingencies that may impact the company’s projections.

C3is Inc. specializes in seaborne transportation services and owns a fleet that includes handysize drybulk carriers and an Aframax oil tanker. The company is listed on the Nasdaq Capital Market under the ticker symbol CISS. Notable operational performance includes revenue growth of 47.17% over the last twelve months.

This strategic move is based on a press release statement from C3is Inc., and it reflects the company’s efforts to align with market regulations and enhance shareholder value. For a comprehensive analysis of C3is Inc.’s financial health and future prospects, investors can access detailed research reports and additional insights through InvestingPro, which offers exclusive access to over 1,400 detailed company research reports and real-time financial metrics.

The reverse stock split will reduce the number of C3is Inc.’s outstanding shares of common stock from approximately 4.2 million to about 0.7 million, without altering the par value per share. It will be reflected in the company’s stock trading starting Monday, April 4, 2025, under the new CUSIP number Y18284 169. Despite recent market challenges, the company maintains strong fundamentals with impressive gross profit margins of 66.62% and holds more cash than debt on its balance sheet. The company’s market capitalization currently stands at $2.68 million.

Stockholders holding fractional shares will receive a cash payment instead of partial shares, based on the closing price of the company’s stock on Nasdaq on the day before the reverse split takes effect.

The company’s outstanding warrants and Series A Convertible Preferred Stock will also undergo proportionate adjustments to reflect the reverse stock split. The Class B and Class C Warrants will see further adjustments over an adjustment period ending five trading days after the reverse split’s effective time.

Shareholders with book-entry shares or those held through a bank, broker, or other nominee will not need to take action, as the changes will be automatically updated in their accounts post-April 4, 2025.

The reverse split aims to elevate the company’s stock price to maintain its listing on the Nasdaq exchange. This move is based on a range of ratios for a reverse stock split authorized by the company’s stockholders.

The company’s forward-looking statements suggest confidence in meeting Nasdaq’s continued listing standards. However, they acknowledge inherent uncertainties and contingencies that may impact the company’s projections.

C3is Inc. specializes in seaborne transportation services and owns a fleet that includes handysize drybulk carriers and an Aframax oil tanker. The company is listed on the Nasdaq Capital Market under the ticker symbol CISS.

This strategic move is based on a press release statement from C3is Inc., and it reflects the company’s efforts to align with market regulations and enhance shareholder value.

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