SHIP - Seanergy Maritime to execute 1-for-10 reverse stock split

• Seanergy Maritime ( NASDAQ: SHIP ) is set to implement a 1-for-10 reverse stock split of its issued and outstanding shares of common stock, effective at the opening of trading on February 16, 2023.
• When the reverse stock split becomes effective, every ten shares of the company's issued and outstanding common stock will be automatically converted into one without any change in the par value per share or the total number of shares the company is authorized to issue.
• The number of outstanding shares will be reduced from ~181,916,471 to 18,191,647, to be adjusted for cancellation of fractional shares.
• In addition, Seanergy Maritime ( SHIP ) announced that its chairman and chief executive officer Stamatis Tsantanis plans to purchase up to $1M in the company's common shares in the open market, following the effective date of the reverse stock split.
• This follows the previously announced open market purchases of 300K common shares concluded by Tsantanis in the past six months.

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