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ATHENS - C3is Inc. (NASDAQ:CISS), a ship-owning company providing dry bulk and tanker seaborne transportation services with impressive gross profit margins of 56.22%, announced Wednesday it has entered into definitive agreements with institutional investors for a registered direct offering of 800,000 shares of common stock at $2.50 per share. According to InvestingPro data, the company maintains a strong financial health score and holds more cash than debt on its balance sheet.
The offering is expected to generate approximately $2 million in gross proceeds for the company and is anticipated to close on or about October 9, 2025, subject to customary closing conditions.
According to the company’s statement, C3is plans to use the net proceeds for general corporate purposes and working capital. Aegis Capital Corp. is serving as the exclusive placement agent for the offering. The company’s current market capitalization stands at $3.18 million, with the stock showing significant momentum, gaining 87.13% in the past week.
The transaction is being conducted through an effective shelf registration statement previously filed with and declared effective by the U.S. Securities and Exchange Commission.
C3is Inc. currently owns four vessels: three handysize dry bulk carriers with a combined capacity of 97,664 deadweight tons (dwt) and one Aframax oil tanker with a capacity of approximately 115,800 dwt, bringing the company’s total fleet capacity to 213,464 dwt.
The company’s shares are listed on the Nasdaq Capital Market under the ticker symbol CISS.
This announcement is based on a press release statement from the company.
In other recent news, C3is Inc. released its Q2 2025 earnings, revealing a slight decrease in voyage revenues to $10.7 million, which marks a 1% decline compared to the same period last year. The company reported a net loss of $5.3 million; however, it achieved an adjusted net income of $1.1 million. These financial results indicate the company’s resilience amidst market fluctuations. There have been no recent reports of mergers or acquisitions involving C3is Inc. Analyst firms have not issued any upgrades or downgrades for the company at this time. Investors may find these developments noteworthy as they assess C3is Inc.’s performance.
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