Euroseas Ltd. · NASDAQ:ESEA
Euroseas — Investor Presentation (May 2012)
11 slides from Euroseas's investor presentation, May 30, 2012
Slide 1: Rights Offering Presentation
Rights Offering Presentation May 30, 2012
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may re
Slide 3: Rights Offering Overview
Rights Offering Overview Raise up to $15 million by offering approximately 13.85 million shares at $1.10 per share All shareholders of record as of May 14, 2012 are eligible to participate Rights Offering ends at 5:00 p.m., Eastern Daylight Time, on June 15, 2012, unless we extend the expirati
Slide 4: Why Pursue A Rights Offering Now
Why Pursue A Rights Offering Now Pursue further acquisition opportunities Both sectors we operate, drybulkers and containerships, will offer acquisition opportunities at historically low prices in the future We are not raising cash due to any distress situation We have more than $35 million
Slide 5: Asset Values at Historical Lows
Asset Values at Historical Lows 10-Year Secondhand Prices 10-yr old Price Historical Range 90 90 80 80 Max, 2000-2011 Panamax 75,000 dwt Average, 2000-2011 70 70 Containership 1700 teu Min, 2000-2011 60 60 Current, May-2012 50 million $ 50 $ million 40 40 30 30 20 20 ? ? 10 10 0 0 2001- 2002- 2003-
Slide 6: Offering Details: Basic and Oversubscription Rights
Offering Details: Basic and Oversubscription Rights Existing shareholders will receive the right to acquire 1 share for each 2.25 shares they owned on May 14, 2102 (“basic subscription right”) We will issue up to a maximum of 13,852,094 shares of common stock resulting in up to a maximum of 45,0
Slide 7: Rights Offering Economics
Rights Offering Economics If participation in the rights offering is 100%, we will raise $15.2 million gross, or $14.9 million net after offering expenses Offering expenses will cost amount approximately $0.01 per share Shareholders who would not participate in the offering would suffer a math
Slide 8: Commitment of Founding Shareholder
Commitment of Founding Shareholder Our founding shareholder, Friends Investment Company Inc., “Friends”, has indicated to us that it will exercise its basic subscription privilege in full and participate in the oversubscription privilege As of today, Friends holds approximately 11.2 million shar
Slide 9: Exercise Mechanics
Exercise Mechanics Shareholders will receive a mailing with the prospectus supplement and instructions on how to exercise their basic and oversubscription privileges In general, subscription forms and payment for both basic and oversubscription privilege are due by 5:00 p.m. on June 15, 2012, un
Slide 10: Summary
Summary Over the last 7 years, Euroseas has built a track record of being: A conservative, value driven company Focused on creating returns for our shareholders We have maintained a strong balance sheet throughout the financial crisis and subsequent challenging years Avoided investing at t
Slide 11: Euroseas Contacts
Euroseas Contacts Euroseas Ltd. c/o Eurobulk Ltd 4, Messogiou & Evropis Street 151 25 Maroussi, Greece www.euroseas.gr euroseas@euroseas.gr Tel. +30-211-1804005 Fax.+30-211-1804097 or, Tasos Aslidis Nicolas Bornozis Chief Financial Officer Investor Relations Euroseas Ltd. Capital Link, Inc. 11 Cante