Business
Icon Energy Corp. Announces the Acquisition of a Kamsarmax Dry Bulk Carrier
ATHENS, Greece, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon Energy” or the “Company”) (Nasdaq: ICON), an international shipping company that
About this update from Icon Energy Corp.
[{"type":"text","content":"ATHENS, Greece, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon Energy” or the “Company”) (Nasdaq: ICON), an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes, announces that on August 2, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement with an unaffiliated third-party to acquire a Kamsarmax dry bulk carrier, built in November 2007 in Japan, for a purchase price of $17.57 million. The Company expects to finance the purchase price of the vessel with a combination of cash on hand and borrowings under a new senior secured facility that the Company anticipates it will enter into prior to taking delivery of the vessel. The acquisition is subject to the satisfaction of certain customary closing conditions and is expected to be concluded upon taking delivery of the vessel between September and November of 2024. Ismini Panagiotidi, Chairman and Chief Executive Officer of Icon Energy commented: “We are pleased to announce our first vessel acquisition since the completion of our Initial Public Offering. With our addition of this asset, we will double the size of our fleet, consistent with our growth strategy and goal to create value for our shareholders.” About Icon Energy Icon Energy is an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes through the ownership, chartering and operation of oceangoing vessels. Icon Energy maintains its principal executive office in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol “ICON”. Forward Looking Statements This communication contains “forward-looking statements.” Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions that are other than statements of historical fact are forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, ma...