TheUS-listed company said it is offering 4m 8.5% Series C preferred shares which will be priced at $25m pershare.
Theshipowner could raise a further $15m from the sale of an additional 600,000which have been offered to the underwriters.
Costamaresaid it plans to use the net proceeds of the offering for general corporatepurposes, including making vessel acquisitions or investments.
Morgan Stanley,UBS Securities and Credit Suisse Securities are acting as joint book-runningmanagers of the offering.
