EuroDry Ltd.
|
(Name of Issuer)
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Common Shares, $0.01 par value
|
(Title of Class of Securities)
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Y23508107
|
(CUSIP Number)
|
Friends Investment Company Inc.
4 Messogiou & Evropis St.
151 24 Maroussi Greece |
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
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February 12, 2021
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(Date of Event Which Requires Filing of this Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
Rule 13d-1(f) or Rule 13d-1(g), check the following box [X].
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The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject
to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.
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CUSIP No.
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Y23508107
|
1.
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NAME OF REPORTING PERSONS
|
|
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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||
Friends Investment Company Inc.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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||
(a)
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[_]
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||
(b)
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[_]
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3.
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SEC USE ONLY
|
|
4.
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SOURCE OF FUNDS*
|
|
WC
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5.
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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[_]
|
|
6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Republic of the Marshall Islands
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
||
7.
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SOLE VOTING POWER
|
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0
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8.
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SHARED VOTING POWER
|
|
0
|
9.
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SOLE DISPOSITIVE POWER
|
|
0
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10.
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SHARED DISPOSITIVE POWER
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[_]
|
|
0
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11.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
|
|
PERSON
|
||
0
|
12.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
|
||
CERTAIN SHARES*
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|||
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[_] |
13.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
0%
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14.
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TYPE OF REPORTING PERSON*
|
|
CO
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CUSIP No.
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Y23508107
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1.
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NAME OF REPORTING PERSONS
|
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I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
||
Ergina Shipping Ltd.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
|
||
(a)
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[_]
|
||
(b)
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[_]
|
3.
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SEC USE ONLY
|
|
4.
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SOURCE OF FUNDS*
|
|
WC
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5.
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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[_]
|
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6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
|
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Republic of Liberia
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
||
7.
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SOLE VOTING POWER
|
|
180,308
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8.
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SHARED VOTING POWER
|
|
0
|
9.
|
SOLE DISPOSITIVE POWER
|
|
180,308
|
10.
|
SHARED DISPOSITIVE POWER
|
[_]
|
|
0
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11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
|
|
PERSON
|
||
180,308
|
12.
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
|
||
CERTAIN SHARES*
|
|||
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[_] |
13.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
7.06%
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14.
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TYPE OF REPORTING PERSON*
|
|
CO
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CUSIP No.
|
Y23508107
|
1.
|
NAME OF REPORTING PERSONS
|
|
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
||
Friends Dry Investment Company Inc.
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2.
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
|
||
(a)
|
[_]
|
||
(b)
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[_]
|
3.
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SEC USE ONLY
|
|
4.
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SOURCE OF FUNDS*
|
|
WC
|
5.
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
|
[_]
|
|
6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
Republic of the Marshall Islands
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
||
7.
|
SOLE VOTING POWER
|
|
819,833
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8.
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SHARED VOTING POWER
|
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0
|
9.
|
SOLE DISPOSITIVE POWER
|
|
819,833
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10.
|
SHARED DISPOSITIVE POWER
|
[_]
|
|
0
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
|
|
PERSON
|
||
819,833
|
12.
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
|
||
CERTAIN SHARES*
|
|||
|
[_] |
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
32.11%
|
14.
|
TYPE OF REPORTING PERSON*
|
|
CO
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CUSIP No.
|
Y23508107
|
1.
|
NAME OF REPORTING PERSONS
|
|
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
||
Family United Navigation Co.
|
2.
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
|
||
(a)
|
[_]
|
||
(b)
|
[_]
|
3.
|
SEC USE ONLY
|
|
4.
|
SOURCE OF FUNDS*
|
|
WC
|
5.
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
|
[_]
|
|
6.
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
Republic of the Marshall Islands
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
||
7.
|
SOLE VOTING POWER
|
|
263,415
|
8.
|
SHARED VOTING POWER
|
|
0
|
9.
|
SOLE DISPOSITIVE POWER
|
|
263,415
|
10.
|
SHARED DISPOSITIVE POWER
|
[_]
|
|
0
|
11.
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
|
|
PERSON
|
||
263,415
|
12.
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
|
||
CERTAIN SHARES*
|
|||
|
[_] |
13.
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
10.32%
|
14.
|
TYPE OF REPORTING PERSON*
|
|
CO
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Item 1. |
Security and Issuer
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Item 2. |
Identity and Background
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(a),(f) |
The persons filing this statement are Friends Investment Company Inc., a Marshall Islands corporation (“Friends Investment Company”), Friends Dry Investment Company Inc., a Marshall Islands
corporation (“Friends Dry Investment Company”), Family United Navigation Co., a Marshall Islands corporation (“Family United Navigation”) and Ergina Shipping Ltd., a Liberian corporation (“Ergina”) and, together with Friends Investment
Company Friends Dry Investment Company and Family United Navigation, the "Reporting Persons").
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(b) |
The address of the principal place of business of each of Friends Investment Company, Friends Dry Investment Company and Ergina Shipping Ltd. is 4 Messogiou & Evropis St., 151 24 Maroussi,
Greece.
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(b),(c) |
The principal business of the Reporting Persons is acting as shipping investment holding companies.
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|
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Aristides P. Pittas
|
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President, Director
|
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Mr. Pittas is a citizen of Greece. His principal occupation is serving as Vice Chairman of the Issuer.
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|
|
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Aristides J. Pittas
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Vice President/Director
|
|
Mr. Pittas is a citizen of Greece. His principal occupation is serving as Chairman, CEO and President of the Issuer and President of Eurobulk Ltd.
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|
|
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Nikolaos J. Pittas
|
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Treasurer/Secretary/Director
|
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Mr. Pittas is a citizen of Greece. His principal occupation is serving as the financial manager of Eurobulk Ltd.
|
|
|
|
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Emmanuel J. Pittas
|
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Director
|
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Mr. Pittas is a citizen of Greece. His principal occupation is serving as vice president of Eurobulk Ltd.
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Pantelis Pittas
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President/Director
|
Mr. Pittas is a citizen of Greece. His principal occupation is serving as Chartering Manager of Eurobulk, Ltd.
|
||
Aristides P. Pittas
|
|
Secretary/Director
|
|
Mr. Pittas is a citizen of Greece. His principal occupation is serving as Vice Chairman of the Issuer.
|
|
|
|
||
Eleni Pitta
|
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Treasurer/Director
|
|
Ms. Pitta is a citizen of Greece. Her principal occupation is serving as an employee in Administration at Eurobulk Ltd.
|
|
|
|
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Despoina Pitta
|
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Director
|
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Ms. Pitta is a citizen of Greece. Her principal occupation is serving on the board of directors of P. Pappas and A. Pittas OE.
|
|
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Aristides P. Pittas
|
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President, Director
|
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Mr. Pittas is a citizen of Greece. His principal occupation is serving as Vice Chairman of the Issuer.
|
|
|
|
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Markos Vasilikos
|
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Vice President/Director
|
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Mr. Vasilikos is a citizen of Greece. His principal occupation is serving as the managing director of Eurobulk Ltd.
|
|
|
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Nikolaos J. Pittas
|
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Treasurer/Secretary/Director
|
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Mr. Pittas is a citizen of Greece. His principal occupation is serving as the financial manager of Eurobulk Ltd.
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|
|
|
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(d),(e) |
None of the Reporting Persons, nor any manager or executive officer of the Reporting Persons, has, during the past five years, (a) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting, or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
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Item 3. |
Source and Amount of Funds or Other Consideration
|
Vested
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Unvested
|
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Aristides P. Pittas
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0
|
1,540
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Aristides J. Pittas
|
19,629
|
5,585
|
Item 4. |
Purpose of Transaction
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Item 5. |
Interest in Securities of the Issuer
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(a)-(d) |
As of the date hereof, Friends Investment Company may be deemed to be the beneficial owner of 0 Common Shares, constituting 0% of the Common Shares. Friends Investment Company has the sole
power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 0 Common Shares. Friends Investment Company has the sole power to dispose or direct the disposition of 0 Common Shares and the shared
power to dispose or direct the disposition of 0 Common Shares.
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(e) |
As of January 23, 2019, Friends Investment Company does not own more than 5% of the total outstanding Common Shares of the Issuer.
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Item 6. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
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Item 7. |
Material to be Filed as Exhibits
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June 30, 2021
|
||
(Date)
|
||
Friends Investment Company Inc.
|
||
By: /s/ Aristides J. Pittas
|
||
Name: Aristides J. Pittas
Title: Vice President
Ergina Shipping Ltd.
By: /s/ Aristides P. Pittas
Name: Aristides P. Pittas
Title: President
|
Friends Dry Investment Company Inc.
|
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By: /s/ Aristides J. Pittas
|
|
Name: Aristides J. Pittas
Title: Vice President
|
Family United Navigation Co.
|
|
By: /s/ Pantelis Pittas
|
|
Name: Pantelis Pittas
Title: President
|
June 30, 2021
|
||
(Date)
|
||
Friends Investment Company Inc.
|
||
By: /s/ Aristides J. Pittas
|
||
Name: Aristides J. Pittas
Title: Vice President
Ergina Shipping Ltd.
By: /s/ Aristides P. Pittas
Name: Aristides P. Pittas
Title: President
|
||
Friends Dry Investment Company Inc.
|
|
By: /s/ Aristides J. Pittas
|
|
Name: Aristides J. Pittas
Title: Vice President
|
Family United Navigation Co.
|
|
By: /s/ Pantelis Pittas
|
|
Name: Pantelis Pittas
Title: President
|
Date of
Transaction
|
Title of Class
|
Number of Common
Shares Acquired
|
Number of Common
Shares Disposed
|
Price Per
Common Share
|
4/14/21
|
Common Shares, $0.01 par value
|
2,077
|
N/A
|
$8.20
|
4/14/21
|
Common Shares, $0.01 par value
|
8,600
|
N/A
|
$7.83
|
4/15/21
|
Common Shares, $0.01 par value
|
3,543
|
N/A
|
$8.20
|
6/02/21
|
Common Shares, $0.01 par value
|
N/A
|
44,261
|
$28.26
|
6/03/21
|
Common Shares, $0.01 par value
|
N/A
|
5,739
|
$28.90
|
Date of
Transaction
|
Title of Class
|
Number of Common
Shares Acquired
|
Number of Common
Shares Disposed
|
Price Per
Common Share
|
4/13/2021
|
Common Shares, $0.01 par value
|
4,054
|
N/A
|
$8.40
|
4/14/2021
|
Common Shares, $0.01 par value
|
300
|
N/A
|
$8.40
|
4/19/2021
|
Common Shares, $0.01 par value
|
866
|
N/A
|
$8.35
|
4/20/2021
|
Common Shares, $0.01 par value
|
560
|
N/A
|
$8.35
|
4/21/2021
|
Common Shares, $0.01 par value
|
28
|
N/A
|
$8.57
|
5/14/2021
|
Common Shares, $0.01 par value
|
1,283
|
N/A
|
$12.85
|
6/1/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,500
|
$21.95
|
6/2/2021
|
Common Shares, $0.01 par value
|
N/A
|
579
|
$28.50
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,000
|
$28.25
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
11,421
|
$28.50
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,000
|
$28.40
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
5,000
|
$28.70
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
11,000
|
$29.00
|
6/3/2021
|
Common Shares, $0.01 par value
|
N/A
|
5,000
|
$29.10
|
6/4/2021
|
Common Shares, $0.01 par value
|
N/A
|
3,995
|
$29.30
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
3,900
|
$28.50
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,100
|
$27.51
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,100
|
$28.30
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,500
|
$30.15
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
3,000
|
$29.65
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
3,800
|
$29.70
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
4,000
|
$29.99
|
6/7/2021
|
Common Shares, $0.01 par value
|
N/A
|
5,100
|
$27.90
|