Boston, MA 08/22/2214 (wallstreetpr) – One of the well-known organizations of the U.S. FreeSeas Inc (NASDAQ:FREE) has decided to resale up to 7.5 million of its common stock. According to reports, the par value of this common stock is $0.001. The only condition of this transaction is that company has made a common stock issuable only upon the exercise or exchange of series A Warrants and Series B Warrants.
Insights of the proposal:
All those stockholders who want to sell their common stocks can execute it from time to time in the principal market. Here principal market is a platform where the common stock of the company is quoted at negotiated price or existing market price. The company has already made it clear that it would not sell any security through this prospectus; neither will it receive any money from the sale of common stock. FreeSeas Inc (NASDAQ:FREE) will receive only those proceedings that will realize from warrants held by the selling stockholder (in the case stockholder decides to make the transaction in cash form). In return, FreeSeas Inc (NASDAQ:FREE) is ready to pay for the entire expenses that will occur in registering these common stocks. These expenses include accounting and legal fees for the common stocks.
All the shareholders are required to obtain the current market price of the company’s shares to exercise the common stock of the company. The holders of common stocks can share the complete lot or part of the common stock through one or more underwriters, dealers, brokers and agents from time to time. If any holder of common stocks of the company opts to take services of any dealers or agents, then the entire responsibility will be on their only, subjected to the commission paid. Some of the major platforms where a common stock-holder can sell his shares include any stock exchange, over-the-counter market, through writing or settlement of options, through ordinary brokerage transactions and privately negotiated transactions.
