Icon Energy Corp. announces updates in connection with the SEPA
Published by Alfie Lloyd-Perks,
Assistant Editor
Dry Bulk,
Icon Energy Corp announce that since its most recent update, the company has sold an aggregate of 1 136 470 of its common shares at an average price of US$3.11 per share per share pursuant to advances under the Standby Equity Purchase Agreement ('SEPA').
As previously announced, Icon entered into the SEPA with an investor on August 27, 2025. Icon believes that the SEPA provides a flexible and efficient source of capital that, subject to its terms and conditions, may be utilised at times and amounts of the Company’s choosing.
The Company’s disciplined execution resulted in an average price per share sold that exceeded the volume-weighted average market price during the respective period. The Company intends to utilise the net proceeds of US$3.5 million for general corporate purposes and to pursue potential growth opportunities and strategic initiatives.
As of the date hereof, the Company had 2 508 470 common shares issued and outstanding.
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