Nasdaq-listed Euroseas will use the expanded cash pile to expand its fleet, it tells investors.
In a statement issued last night it explains 13,852,094 shares were taken up in the issue at $1.10 each.
It explains the final $14.9m purse will be set to work acquiring vessels, some of which may come via joint-ventures.
Aristides Pittas, CEO of Euroseas, said: "We look forward to using the proceeds of this offering along with other funds at our disposal to take advantage of market opportunities accretive to our operations.”
Euroseas
