C3is Inc. reports Revenue of $13.8 million, Net Income of $5.6 million and $0.25 earnings per diluted share for the fourth quarter of 2023, and financial and operating results for the quarter and twelve months ended December 31, 2023

 OPERATIONAL AND FINANCIAL HIGHLIGHTS Following the acquisition of the Aframax tanker, Afrapearl II (ex. Stealth Berana), in July 2023 the total fleet capacity increased to 179,800 dwt. Our two handysize dry bulk carriers are currently on short term fixed rate time charters with steady cash flows, while our Aframax tanker Read more…

C3is Inc. announces the date for the release of the fourth quarter and twelve months 2023 financial and operating results

Athens, Greece, March 21, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing seaborne transportation services, announced today that it will release its fourth quarter and twelve months financial results for the period ended December 31, 2023 before the market opens in New York on March 26th, 2024.

On March 26th, 2024, at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook. (more…)

C3is Inc. Announces Closing of $6.0 Million Underwritten Public Offering

ATHENS, Greece, Mar. 19, 2024 (GLOBE NEWSWIRE) — C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the Company of approximately $6.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consisted of 120,000,000 Common Units or Pre-funded Units, each consisting of one share of common stock (“Common Share”) or Pre-Funded Warrant, one half of a Class C-1 Warrant to purchase one Common Share at an exercise price of $0.075 per share (or 150% of the price of each Common Unit sold in the offering) or pursuant to an alternative cashless exercise option, which warrant will expire on the five-year anniversary of the original issuance date (the “Class C-1 Warrants”) and one Class C-2 Warrant to purchase one Common Share at an exercise price of $0.085 per share (or 170% of the price of each Common Unit sold in the offering) which warrant will expire on the five-year anniversary of the original issuance date (the “Class C-2 Warrants” and together with the Class C-1 Warrants, the “Warrants”). The purchase price of each Common Unit was $0.05, and the purchase price of each Pre-Funded Unit was $0.04 (which is equal to the public offering price per Common Unit minus $0.01). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. (more…)

C3IS INC. Announces Receipt of Nasdaq Delisting Determination; Appeal

Athens, Greece, March 15, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, announced today that it has received a staff determination letter, dated March 15, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days, through March 14, 2024, and that, consistent with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the Staff has determined to delist the Company’s common stock from The Nasdaq Capital Market. The letter further provides that the Company has until March 22, 2024 to appeal the Staff’s decision. (more…)

C3is Inc. Announces Pricing of $6.0 Million Underwritten Public Offering

ATHENS, Greece, Mar. 15, 2024 (GLOBE NEWSWIRE) — C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, today announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $6.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consists of 120,000,000 Common Units or Pre-funded Units, each consisting of one share of common stock (“Common Share”) or Pre-Funded Warrant, one half of a Class C-1 Warrant to purchase one Common Share at an exercise price of $0.075 per share (or 150% of the price of each Common Unit sold in the offering) or pursuant to an alternative cashless exercise option, which warrant will expire on the five-year anniversary of the original issuance date (the “Class C-1 Warrants”) and one Class C-2 Warrant to purchase one Common Share at an exercise price of $0.085 per share (or 170% of the price of each Common Unit sold in the offering) which warrant will expire on the five-year anniversary of the original issuance date (the “Class C-2 Warrants” and together with the Class C-1 Warrants, the “Warrants”). The purchase price of each Common Unit is $0.05 and the purchase price of each Pre-Funded Unit is $0.04 (which is equal to the public offering price per Common Unit minus $0.01). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. (more…)

C3IS INC. GRANTED 180-DAY EXTENSION BY NASDAQ TO REGAIN COMPLIANCE WITH MINIMUM BID PRICE RULE

Athens, Greece, February 22, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, today announced that the Company received formal notification from the Listing Qualification Department of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it has been granted an additional 180-day compliance period, or until August 19, 2024, to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5550(a)(2) (the “Rule”).

If at any time until August 19, 2024, the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Rule, and the matter will be closed. (more…)

C3is Inc. Announces Closing of $7.0 Million Upsized Underwritten Public Offering

ATHENS, Greece, Jan. 23, 2024 (GLOBE NEWSWIRE) — C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the Company of approximately $7.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $6.0 million. The offering consisted of 28,000,000 Common Units or Pre-funded Units, each consisting of one share of common stock (“Common Share”) or Pre-Funded Warrant, one half of a Class B-1 Warrant to purchase one Common Share at an exercise price of $0.375 per share (or 150% of the price of each Common Unit sold in the offering) or pursuant to an alternative cashless exercise option, which warrant will expire on the five-year anniversary of the original issuance date (the “Class B-1 Warrants”) and one Class B-2 Warrant to purchase one Common Share at an exercise price of $0.425 per share (or 170% of the price of each Common Unit sold in the offering) which warrant will expire on the five-year anniversary of the original issuance date (the “Class B-2 Warrants” and together with the Class B-1 Warrants, the “Warrants”). The purchase price of each Common Unit was $0.25, and the purchase price of each Pre-Funded Unit was $0.24 (which is equal to the public offering price per Common Unit minus $0.01). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. (more…)

C3is Inc. Announces Pricing of $7.0 Million Upsized Underwritten Public Offering

ATHENS, Greece, Jan. 19, 2024- C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and crude oil tanker seaborne transportation services, today announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $7.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $6.0 Million. The offering consists of 28,000,000 Common Units or Pre-funded Units, each consisting of one share of common stock (“Common Share”) or Pre-Funded Warrant, one half of a Class B-1 Warrant to purchase one Common Share at an exercise price of $0.375 per share (or 150% of the price of each Common Unit sold in the offering) or pursuant to an alternative cashless exercise option, which warrant will expire on the five-year anniversary of the original issuance date (the “Class B-1 Warrants”) and one Class B-2 Warrant to purchase one Common Share at an exercise price of $0.425 per share (or 170% of the price of each Common Unit sold in the offering) which warrant will expire on the five-year anniversary of the original issuance date (the “Class B-2 Warrants” and together with the Class B-1 Warrants, the “Warrants”). The purchase price of each Common Unit is $0.25, and the purchase price of each Pre-Funded Unit is $0.24 (which is equal to the public offering price per Common Unit minus $0.01). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. (more…)