- The United Maritime Corp (NASDAQ: USEA) stock is trending today. This is why.
The United Maritime Corp (NASDAQ: USEA) stock is trending today as the stock price surged over 220% during intraday trading today. This comes shortly after the company’s stock price fell over 70% between July 8 and July 14. And the company stock price quadrupled on July 6 after completing a spinoff from Greece-based dry bulk transportation company Seanergy Maritime.
One of the reasons why the stock price substantially fell on July 13 was due to an announcement that the company would be offering between 1.3 million and 5.3 million units in order to raise funds for general corporate purposes.
Another reason why many investors are closely watching United Maritime is due to the company announcing that it has entered into agreements with unaffiliated third parties to buy a fleet of four tanker vessels, consisting of 2 Aframax oil tankers and 2 LR2 product tankers with prompt deliveries.
The 2 Aframax crude tankers were built in 2006 at a reputable yard in South Korea and have a cargo carrying capacity of approximately 114,000 deadweight (dwt) tons each while the two LR2 product tankers were built in 2008 at reputable yards in China and have a cargo carrying capacity of approximately 109,000 dwt each.
The aggregate purchase price for the 4 vessels is $79.5 million and it is expected to be funded with cash on hand and proceeds from committed credit facilities.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.