SEC Form SC 13D/A filed by Seanergy Maritime Holdings Corp. (Amendment)

$SHIP
Marine Transportation
Consumer Discretionary
Get the next $SHIP alert in real time by email
SC 13D/A 1 tm2416341d2_sc13da.htm SC 13D/A

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

 

 

(Amendment No. 7)*

 

Seanergy Maritime Holdings Corp.

(Name of Issuer)

 

Common Shares, par value $0.0001 per share

(Title of Class of Securities)

 

Y73760400
(CUSIP Number)

 

Kleanthis Costa Spathias

c/o Levante Services Limited

Leoforos Evagorou 31, 2nd Floor, Office 21

1066 Nicosia, Cyprus

+30 210 8090429

 

with a copy to:

 

Richard M. Brand

Kiran S. Kadekar

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, NY 10281

(212) 504-6000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

June 3, 2024

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

 

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

*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.

 

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).

 

 

 

 

 

CUSIP No. Y73760400   13D

 
 
  1.

Names of Reporting Persons

Sphinx Investment Corp.

     
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) x
     
  3. SEC Use Only
     
  4.

Source of Funds (See Instructions)

WC

     
  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
     
  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

0

8.

Shared Voting Power

1,859,096*

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

1,859,096*

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,859,096*

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

8.9%**

  14.

Type of Reporting Person (See Instructions)

CO

           

* All reported Common Shares are held by Sphinx Investment Corp. Sphinx Investment Corp. is a wholly-owned subsidiary of Maryport Navigation Corp., which is a Liberian company controlled by Mr. Economou.

** Based on the 20,779,660 Common Shares stated by the Issuer as being outstanding as at May 13, 2024, in its Report on Form 6-K, filed with the United States Securities and Exchange Commission (the “SEC”) on May 17, 2024 (the “May 2024 6-K”).

 

 

 

 

CUSIP No. Y73760400   13D

 
 
  1.

Names of Reporting Persons

Maryport Navigation Corp.

     
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) x
     
  3. SEC Use Only
     
  4.

Source of Funds (See Instructions)

AF

     
  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
     
  6.

Citizenship or Place of Organization

Liberia

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

7.

Sole Voting Power

0

8.

Shared Voting Power

1,859,096*

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

1,859,096*

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,859,096*

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

8.9%**

  14.

Type of Reporting Person (See Instructions)

CO

           

* All reported Common Shares are held by Sphinx Investment Corp. Sphinx Investment Corp. is a wholly-owned subsidiary of Maryport Navigation Corp., which is a Liberian company controlled by Mr. Economou.

** Based on the 20,779,660 Common Shares stated by the Issuer as being outstanding as at May 13, 2024 in its May 2024 6-K.

 

 

 

 

CUSIP No. Y73760400 13D

 
  1.

Names of Reporting Persons

George Economou

     
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) x
     
  3. SEC Use Only
     
  4.

Source of Funds (See Instructions)

AF

     
  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
     
  6.

Citizenship or Place of Organization

Greece

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

7.

Sole Voting Power

0

8.

Shared Voting Power

1,859,096*

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

1,859,096*

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,859,096*

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

8.9%**

  14.

Type of Reporting Person (See Instructions)

IN

           

* All reported Common Shares are held by Sphinx Investment Corp. Sphinx Investment Corp. is a wholly-owned subsidiary of Maryport Navigation Corp., which is a Liberian company controlled by Mr. Economou.

** Based on the 20,779,660 Common Shares stated by the Issuer as being outstanding as at May 13, 2024 in its May 2024 6-K.

 

 

 

 

This Amendment No. 7 to Schedule 13D (this “Amendment”) amends and supplements the Schedule 13D filed on November 24, 2023, as amended and supplemented by Amendment No. 1 to Schedule 13D on December 5, 2023, Amendment No. 2 to Schedule 13D on December 13, 2023, Amendment No. 3 to Schedule 13D on January 10, 2024, Amendment No. 4 to Schedule 13D on January 26, 2024, Amendment No. 5 to Schedule 13D on March 5, 2024 and Amendment No. 6 to Schedule 13D on May 31, 2024 (the “Initial 13D”, and the Initial 13D as further amended and supplemented by this Amendment, the “Schedule 13D”) by the Reporting Persons, relating to the common shares, par value $0.0001 per share (the “Common Shares”), of Seanergy Maritime Holdings Corp., a corporation formed under the laws of the Republic of the Marshall Islands (the “Issuer”). Capitalized terms not defined in this Amendment shall have the meanings ascribed to them in the Initial 13D.

 

Item 4. Purpose of Transaction.

 

On June 3, 2024, the Reporting Persons issued a press release, a copy of which is furnished herewith as Exhibit 99.4.

 

Item 7. Material to be Filed as Exhibits.

 

Exhibit 99.1 Joint Filing Agreement, dated November 24, 2023, by and among the Reporting Persons.*
   
Exhibit 99.2 Trading Data*
   
Exhibit 99.3 Complaint, filed in the High Court of the Republic of the Marshall Islands on March 4, 2024*
   
Exhibit 99.4 Press Release, dated June 3, 2024

 

* Previously filed

 

-6-

 

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Date: June 3, 2024 SPHINX INVESTMENT CORP.
   
  By: Levante Services Limited
   
  By:  /s/ Kleanthis Costa Spathias
    Kleanthis Costa Spathias
    Director
   
Date: June 3, 2024 MARYPORT NAVIGATION CORP.
   
  By: Levante Services Limited
   
  By: /s/ Kleanthis Costa Spathias
    Kleanthis Costa Spathias
    Director
   
Date: June 3, 2024 GEORGE ECONOMOU
   
  By: /s/ George Economou
    George Economou

 

 

Get the next $SHIP alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$SHIP

DatePrice TargetRatingAnalyst
1/16/2024$11.00Buy
B. Riley Securities
5/20/2022$1.50Outperform
Noble Capital Markets
10/7/2021$2.50Hold → Buy
Maxim Group
More analyst ratings

$SHIP
Press Releases

Fastest customizable press release news feed in the world

See more
  • Seanergy Maritime Announces Fixed Income Investor Meetings

    GLYFADA, Greece, March 27, 2025 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the "Company" or "Seanergy") (NASDAQ:SHIP), through Norwegian investment banks, will arrange a series of fixed income investor meetings in the Nordic bond market, commencing March 28, 2025. A four-year USD denominated senior unsecured bond issue may follow, subject to inter alia market conditions. The net proceeds from the contemplated bond issue are intended to be used for general corporate purposes, which may include debt refinancing or acquisitions of vessels. The senior unsecured bonds, if issued, will be sold in the United States only to persons reasonably believed to be qualified institutional

    $SHIP
    Marine Transportation
    Consumer Discretionary
  • Seanergy Maritime Announces Availability of its 2024 Annual Report on Form 20-F

    GLYFADA, Greece, March 24, 2025 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the "Company" or "Seanergy") (NASDAQ:SHIP) announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 (the "Annual Report") has been filed with U.S. Securities and Exchange Commission. The Annual Report may also be accessed through Seanergy's website, www.seanergymaritime.com, at the "Investor Relations" section under "Financial Reports". About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet

    $SHIP
    Marine Transportation
    Consumer Discretionary
  • Seanergy Maritime Reports Record Full Year Profitability; Reports Fourth Quarter and Twelve Month Financial Results for the Periods Ended December 31, 2024; Declares Quarterly Cash Dividend of $0.10 Per Share

    Highlights      (in million USD, except EPS and TCE) Q4 2024Q4 202312M 202412M 2023YoY Growth (%)Net revenues $41.7$39.4$167.5$110.2+52%Net income $6.6$10.8$43.5$2.3Record ProfitabilityAdjusted net income1 $7.1$11.4$48.8$11.7EBITDA1 $19.9$23.3$92.6$51.3+81%Adjusted EBITDA1 $20.4$23.9$98.4$53.0        Fleet TCE2 $23,179$24,920$25,063$17,501+43%       Earnings per share Basic $0.32$0.55$2.12$0.12+1,667%Earnings per share Diluted $0.32$0.55$2.11$0.12 Adjusted earnings per share Basic1 $0.34$0.58$2.39$0.63+279Adjusted earnings per share Diluted1 $0.34$0.58$2.38$0.63         Other Highlights and Developments: Record full year profitability of $43.5 million Fleet TCE outperformed the Baltic Cape

    $SHIP
    Marine Transportation
    Consumer Discretionary

$SHIP
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$SHIP
SEC Filings

See more

$SHIP
Leadership Updates

Live Leadership Updates

See more
  • Seanergy Maritime Shareholders Overwhelmingly Re-Elect Seanergy Nominees at 2024 Annual Meeting

    GLYFADA, Greece, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. ("Seanergy" or the "Company") (NASDAQ:SHIP) today announced that at the Company's 2024 Annual Meeting of Shareholders, Seanergy shareholders have overwhelmingly voted to re-elect the Company's two director nominees – Dimitrios Anagnostopoulos and Ioannis Kartsonas – to serve until the 2027 Annual Meeting, to ratify the appointment of the existing auditors and to reject the proposals brought by G. Economou through his entity Sphinx Investment Corp. The final voting results are as follows: COMPANY PROPOSALS% OF VOTESFORAGAINSTWITHHOLD / ABSTAIN1a. Election of Director – Dimitrios Anagnostopoulos88.21%-11.79%

    $SHIP
    Marine Transportation
    Consumer Discretionary

$SHIP
Financials

Live finance-specific insights

See more
  • Seanergy Maritime Announces Availability of its 2024 Annual Report on Form 20-F

    GLYFADA, Greece, March 24, 2025 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the "Company" or "Seanergy") (NASDAQ:SHIP) announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 (the "Annual Report") has been filed with U.S. Securities and Exchange Commission. The Annual Report may also be accessed through Seanergy's website, www.seanergymaritime.com, at the "Investor Relations" section under "Financial Reports". About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet

    $SHIP
    Marine Transportation
    Consumer Discretionary
  • Seanergy Maritime Reports Record Full Year Profitability; Reports Fourth Quarter and Twelve Month Financial Results for the Periods Ended December 31, 2024; Declares Quarterly Cash Dividend of $0.10 Per Share

    Highlights      (in million USD, except EPS and TCE) Q4 2024Q4 202312M 202412M 2023YoY Growth (%)Net revenues $41.7$39.4$167.5$110.2+52%Net income $6.6$10.8$43.5$2.3Record ProfitabilityAdjusted net income1 $7.1$11.4$48.8$11.7EBITDA1 $19.9$23.3$92.6$51.3+81%Adjusted EBITDA1 $20.4$23.9$98.4$53.0        Fleet TCE2 $23,179$24,920$25,063$17,501+43%       Earnings per share Basic $0.32$0.55$2.12$0.12+1,667%Earnings per share Diluted $0.32$0.55$2.11$0.12 Adjusted earnings per share Basic1 $0.34$0.58$2.39$0.63+279Adjusted earnings per share Diluted1 $0.34$0.58$2.38$0.63         Other Highlights and Developments: Record full year profitability of $43.5 million Fleet TCE outperformed the Baltic Cape

    $SHIP
    Marine Transportation
    Consumer Discretionary
  • Seanergy Maritime Announces the Date for the Fourth Quarter and Year Ended December 31, 2024, Financial Results, Conference Call and Webcast

    Earnings Release: Thursday, March 6, 2025, Before Market Open in New YorkConference Call and Webcast: Thursday, March 6, 2025, at 09:00 a.m. Eastern Time GLYFADA, Greece, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the "Company" or "Seanergy") (NASDAQ:SHIP) announced today that it will release its financial results for the fourth quarter and year ended December 31, 2024, prior to the open of the market in New York on Thursday, March 6, 2025. Seanergy's senior management will conduct a conference call and simultaneous Internet webcast to review these results on Thursday, March 6, 2025, at 09:00 a.m. Eastern Time. Audio Webcast and Earnings Presentation:There will

    $SHIP
    Marine Transportation
    Consumer Discretionary

$SHIP
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more