Euroseas has acquired a feeder containership in exchange for the company’s common stock while chairman Aristides Pittas has provided a $1m cash injection.
The Nasdaq-listed company has added the 1,645-teu RT Dagr (built 1998) to its fleet, bringing its tally to 14 ships.
Instead of cash or debt, Euroseas will pay RT Dagr’s owner with 900,000 shares through Tennenbaum Capital Partners, a holder of the company’s stock.
According
