C3is Inc. Completes $9 Million Public Offering to Fund Fleet Expansion

C3is Inc. (NASDAQ: CISS), a ship-owning company providing dry bulk and tanker seaborne transportation services, has closed a public offering that generated approximately $9 million in gross proceeds before fees and expenses. The offering consisted of 7,500,000 units priced at $1.20 per unit, with each unit including one common share or a pre-funded warrant in lieu thereof, along with Class D and Class E warrants. The company intends to use the net proceeds for capital expenditures, including potential vessel acquisitions, working capital and general corporate purposes.

The transaction represents a significant capital infusion for C3is as it seeks to expand its fleet and operations in competitive shipping markets. The company currently operates four vessels, including three handysize drybulk carriers with a total capacity of 97,664 deadweight tons and an Aframax oil tanker with a cargo carrying capacity of approximately 115,800 deadweight tons, resulting in a fleet total capacity of 213,464 deadweight tons. The additional capital could enable the company to pursue strategic acquisitions that would increase its market presence and operational capabilities.

Aegis Capital Corp. served as the sole placement agent for the offering, managing the transaction through a reasonable best-efforts basis. The successful completion of this offering demonstrates investor confidence in C3is's business model and growth strategy during a period of evolving global shipping demands. The company's shares of Common Stock are listed on the Nasdaq Capital Market and trade under the symbol "CISS," providing public market access for investors interested in the maritime transportation sector.

The capital raise comes at a time when shipping companies are navigating complex market conditions, including fluctuating freight rates and evolving environmental regulations. The funds will provide C3is with greater financial flexibility to capitalize on market opportunities and strengthen its competitive position. For more information about the company, visit https://c3is.pro/. The full details of the offering can be found in the official press release available at https://ibn.fm/1Ln7X.

This financing round represents a strategic move for C3is as it positions itself for potential growth in both dry bulk and crude oil transportation segments. The shipping industry has experienced significant volatility in recent years, with companies needing substantial capital to modernize fleets and meet increasingly stringent environmental standards. The successful completion of this $9 million offering provides C3is with resources to potentially expand its fleet capacity and enhance its service offerings to clients in global shipping markets.