The New York-listed company said it will also grant underwriters a 30-day option to purchase additional shares.

The issue will be listed on the New York exchange.

It did not reveal a target amount, but said proceeds would go towards “general corporate purposes, including making vessel acquisitions or investments.”

Morgan Stanley, UBS Securities, Credit Suisse Securities, JP Morgan Securities and Stifel are acting as joint book-running managers.

Costamare,