FreeSeas Announces Price of Stock Offering

FreeSeas Inc., a provider of seaborne transportation for drybulk cargoes, today announced the pricing of its follow-on offering of 11,000,000 shares of its common stock at a price of $8.25 per share. Credit Suisse and Cantor Fitzgerald & Co. are the joint book running managers and Oppenheimer & Co., and DVB Capital Markets are co-managers. FreeSeas has granted the underwriters an option to purchase an additional 1,650,000 shares of FreeSeas common stock at the public offering price to cover any over-allotments, exercisable within 30 days.