Globus Maritime Limited Announces Closing of $15.0 Million Registered Direct Offering

Rhea-AI Summary

On July 21, 2020, Globus Maritime Limited (NASDAQ: GLBS) completed a registered direct offering and concurrent private placement, raising approximately $15.0 million before fees and expenses. The offering was conducted under a previously filed shelf registration statement, with common shares sold exclusively via a prospectus. The concurrent private placement included warrants not registered under the Securities Act. Globus operates a fleet of five dry bulk vessels and is engaged in marine transportation services globally, primarily transporting various dry bulk cargoes.

Positive

• Raised approximately $15.0 million through the offering.
• Enhances liquidity for future growth and operational needs.

Negative

• Warrants sold are not registered, which may limit future trading options.
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GLYFADA, Greece, July 27, 2020 (GLOBE NEWSWIRE) -- Globus Maritime Limited (the “Company” or Globus”) (NASDAQ: GLBS) announced that on July 21, 2020 it closed the previously announced registered direct offering and concurrent private placement of warrants. The gross proceeds to the Company from the registered direct offering and concurrent private placement were approximately $15.0 million before deducting the placement agent’s fees and other estimated offering expenses.

The common shares sold pursuant to the registered direct offering were sold pursuant to a shelf registration statement on Form F-3 (File No. 333-222580), previously filed with the Securities and Exchange Commission (the “SEC”) on January 17, 2018 and declared effective on February 8, 2018. Such securities were offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering were filed with the SEC. The warrants sold in the concurrent private placement, along with the common shares underlying such warrants, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and were offered pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulation D promulgated thereunder. Copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC’s website at www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Globus Maritime Limited

Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of five dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own and operate seven vessels with a total carrying capacity of 300,571 Dwt and a weighted average age of 12.3 years as of June 30, 2020.

Safe Harbor Statement

This communication contains “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in the Company’s filings with the Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Globus undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Globus describes in the reports it will file from time to time with the Securities and Exchange Commission after the date of this communication.

For further information please contact:

Company Contact Globus Maritime Limited +30 210 960 8300 Athanasios Feidakis, CEO a.g.feidakis@globusmaritime.gr		Investor Relations/Media Capital Link – New York +1 212 661 7566 Nicolas Bornozis globus@capitallink.com

FAQ

What was the purpose of the $15 million offering by Globus (GLBS)?

The offering aimed to enhance liquidity for the company, supporting growth and operational needs.

When did Globus close its registered direct offering?

Globus closed its registered direct offering on July 21, 2020.

How much did Globus Maritime Limited raise in its recent offering?

Globus raised approximately $15.0 million in gross proceeds from the offering.

Are the warrants sold in the private placement registered?

No, the warrants were sold in a private placement and are not registered under the Securities Act.