FreeSeas Announces Extension of FREEW Warrants
PIRAEUS, Greece, Dec 22, 2009 (GlobeNewswire via COMTEX) -- FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ) ("FreeSeas" or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of eight Handysize vessels and two Handymax vessels, announced today that it is further extending the expiration date for its 786,265 outstanding Class W warrants, currently listed under the ticker FREEW, to June 30, 2010 from December 31, 2009. The exercise price per share remains at $2.50.
Each Class W warrant entitles the holder to purchase one share of FreeSeas' common stock. All other terms of the Class W warrants remain unchanged.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers. Currently, it has a fleet of eight Handysize vessels and two Handymax vessels. FreeSeas' common stock and warrants trade on the NASDAQ Global Market under the symbols FREE, FREEW and FREEZ, respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the U.S. Securities and Exchange Commission, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, http://www.freeseas.gr.
FreeSeas Inc. press release