The 17.5m shares are issuable from its A and B warrants and can be sold from time to time, FreeSeas said.
The Nasdaq-listed company will not bank any of the proceeds, but it is paying the price of registering the shares.
CCG has 9.07m shares currently and will have 9.54m after the sale.
Crede has another 35.14m shares potentially issuable from series C warrants, but these contain a “blocker provision” which stops the holder having more than 9.9%
