Globus Maritime Limited - GLBS STOCK NEWS

Globus Maritime Limited (NASDAQ: GLBS) has taken delivery of the M/V 'Galaxy Globe', a Kamsarmax dry bulk carrier acquired for $18.4 million. Built in 2015 at the Hudong-Zhonghua Shipyard, the vessel has a carrying capacity of 81,167 DWT. With this acquisition, Globus now operates a fleet of six dry bulk carriers totaling 381,738 DWT. The company focuses on marine transportation services for various dry bulk cargoes, including iron ore and coal. The fleet's average age is 10.9 years as of September 30, 2020.

Globus Maritime Limited (NASDAQ: GLBS) has announced a 1-for-100 reverse stock split effective October 21, 2020. This decision follows shareholder approval at the annual general meeting on September 24, 2020. The reverse stock split will reduce the number of common shares from approximately 175.7 million to 1.76 million and Series B preferred shares from 30,000 to 300. Shareholders holding fractional shares will receive cash payments instead. This strategic move aims to enhance the stock’s marketability and compliance with NASDAQ listing requirements.

Globus Maritime Limited (GLBS) announced the acquisition of a Kamsarmax vessel built in 2015 for $18.4 million. The deal, expected to close in Q4 2020, will expand Globus' fleet to six dry bulk carriers with a total capacity of 381,738 deadweight tons and a weighted average age of 10.9 years. This strategic purchase aims to increase carrying capacity and reduce the average age of the fleet, reflecting the company's optimism about market prospects.

Globus Maritime Limited (GLBS) reported financial results for the six-month period ending June 30, 2020, showcasing a total revenue decrease to $4.6 million from $6.9 million in 2019. The company experienced a total comprehensive loss of $13.2 million, translating to a basic loss per share of $1.58. Daily Time Charter Equivalent rates plunged by 53% to $3,016 per vessel per day. Despite a challenging environment due to COVID-19, the company raised significant capital through offerings and is exploring debt financing for potential vessel acquisitions.

Globus Maritime Limited (NASDAQ: GLBS) announced the results of its annual shareholders' meeting held on September 24, 2020. Key outcomes include the election of Athanasios Feidakis and Ioannis Kazantzidis as Class I directors until the 2023 Annual Meeting. Ernst & Young was appointed as independent auditors for fiscal year 2020. The company approved amendments for potential reverse stock splits of up to one-for-100 shares and restatement of its Articles of Incorporation. Globus operates a fleet of five dry bulk vessels with a total capacity of 300,571 Dwt.

On September 25, 2020, Globus Maritime Limited (GLBS) will announce its financial results for the quarter and six-month period ending June 30, 2020, after market close. The company operates a fleet of five dry bulk vessels, transporting various cargoes including iron ore, coal, and grain, with a total carrying capacity of 300,571 Dwt and an average vessel age of 12.3 years. As part of the shipping industry, Globus Maritime emphasizes the importance of its financial reporting and stakeholder communication.

Globus Maritime Limited (NASDAQ: GLBS) announced that its annual meeting of shareholders will take place on September 24, 2020, at 11:00 a.m. local time in Glyfada, Greece. Shareholders recorded as of August 18, 2020, are eligible to vote during this event. The meeting's formal notice and proxy statement will be distributed to shareholders soon and are also accessible on the company’s website. Globus Maritime operates a fleet of five dry bulk vessels and has subsidiaries managing seven additional vessels with a total carrying capacity of 300,571 Dwt.

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.

Globus Maritime Limited (NASDAQ: GLBS) has entered into a securities purchase agreement to raise approximately $15 million through a registered direct offering of 83,333,333 common shares at $0.18 each, in addition to warrants for the same amount. The offering is expected to close around July 21, 2020, pending usual conditions. Furthermore, the Company plans to reduce the exercise price of existing warrants from $0.30 to $0.18. Maxim Group LLC is acting as the sole placement agent for this transaction.