Euroseas scraps offering of two-year convertible preferreds

By Laura Lutz

Des Moines, Jan. 10 - Euroseas Ltd. canceled its previously announced plans to issue two-year series A mandatory convertible preferred stock, according to a news release.

The company instead plans to offer 5 million shares of its common stock, with an over-allotment option for 750,000 more shares.

The convertible preferreds offering was originally announced on Nov. 17. Full terms of the deal were not set at that time.

Cantor Fitzgerald & Co. and Oppenheimer & Co. were to have been the bookrunners.

Euroseas is a Maroussi, Greece-based owner and operator of drybulk and container vessels.

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