Heidmar Maritime completes merger with MGO Global

Heidmar Maritime Holdings Corp., a global player in deep-sea freight transportation, announced the completion of its business combination with MGO Global Inc., resulting in MGO and Heidmar Inc. becoming wholly-owned subsidiaries of the company. This strategic move was finalized on Monday, with both entities now operating under the Heidmar umbrella.

The transaction, initially agreed upon on June 18, 2024, underwent amendments on December 17, 2024, and January 31, 2025, leading to the successful merger. These developments were detailed in the company’s registration statement on Form F-4, which was filed with the U.S. Securities and Exchange Commission and declared effective on February 4, 2025.

Starting tomorrow, Heidmar Maritime’s common shares will be traded on the Nasdaq Capital Market under the ticker symbol "HMR." The new Board of Directors, effective from the closing date, comprises seven members with extensive experience in maritime transportation, finance, and corporate governance. The board includes Pankaj Khanna, CEO of Heidmar since 2019, James Lawrence, Chairman of MTI USA, Andreas Konialidis, Head of Tanker Chartering at Heidmar, John Shelley, with over 40 years in the maritime industry, Niovi Iasemidi, Deputy CFO of Capital Clean Energy Carriers Corp., André Lockhorst, partner at Maritime fund manager PROW Capital, and Vasileios Loutradis, part of Heidmar’s tanker chartering team.

The company has determined that James Lawrence, André Lockhorst, John Shelley, and Niovi Iasemidi meet the independence criteria as per Nasdaq rules. The Audit Committee will be composed of Lawrence, Lockhorst, and Shelley, while the Nominating and Compensation Committee will include Iasemidi, Lockhorst, and Shelley. As a foreign private issuer, Heidmar Maritime has elected to follow certain corporate governance practices of its home country, the Republic of the Marshall Islands, in lieu of some Nasdaq requirements, specifically regarding the holding of "executive sessions" of independent directors.

This business combination is poised to enhance Heidmar Maritime’s position in the market, leveraging the strengths of both Heidmar and MGO. The information reported is based on the latest SEC filing by Heidmar Maritime Holdings Corp.

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