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Prospect News home > News index > List of issuers F > Headlines for FreeSeas Inc. > News item
Published on 9/26/2006 in the Prospect News Convertibles Daily and Prospect News PIPE Daily.

FreeSeas plans sale of up to $22 million of convertibles

New York, Sept. 26 - FreeSeas Inc. said it plans to sell at least $15 million and possibly $22 million of senior convertible secured guaranteed notes due 2011.

The securities will be sold to institutional investors under Rule 506.

Proceeds will be used to acquire handysize vessels.

FreeSeas is a Piraeus, Greece, operator of dry bulk ships.


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