Costamare Inc. Announces Full Redemption of its Outstanding Shares of Series E Preferred Stock
June 14 2024 - 4:32PM
Costamare Inc. (the “Company”, “we” or “our”) (NYSE: CMRE)
announced today that the Company will redeem all of its outstanding
shares of 8.875% Series E Cumulative Redeemable Perpetual Preferred
Stock (the “Series E Preferred Stock”, and the redemption thereof,
the “Redemption”) held by shareholders (the “Holders”), pursuant to
that certain Statement of Designation, dated as of January 26,
2018. The Company expects the redemption date for the shares of
Series E Preferred Stock to occur on July 15, 2024 (the “Redemption
Date”). The redemption price of the shares of Series E Preferred
Stock will be $25.00 per share plus accrued and unpaid dividends in
respect of the Series E Preferred Stock up to, but not including,
the Redemption Date (the “Redemption Price”). As of the date of
this press release, there were 4,574,100 Series E Preferred Stock
outstanding.
Upon the Redemption, no shares of Series E
Preferred Stock will remain outstanding, and all rights with
respect to such stock will cease and terminate other than the right
to receive payment of the Redemption Price. The information
contained in this Press Release does not constitute a notice of
redemption with respect to the shares of Series E Preferred
Stock.
The shares of Series E Preferred Stock are held
through The Depository Trust Company (“DTC”) and will be redeemed
in accordance with the procedures of DTC. Payment to DTC for the
shares of Series E Preferred Stock will be made by Equiniti Trust
Company, LLC, the Company’s redemption agent (the “Redemption
Agent”), in accordance with the terms set forth in the Redemption
Agent Agreement that governs the redemption of the shares of Series
E Preferred Stock. All questions about the notice of redemption and
related materials should be directed to the Redemption Agent at the
following address and phone number:
Equiniti Trust Company, LLC Attention:
Reorganization Department 55 Challenger Road, Suite 200 Ridgefield
Park, New Jersey 07660 Tel: (718) 921-8317
About Costamare Inc.
Costamare Inc. is one of the world’s leading
owners and providers of containerships and dry bulk vessels for
charter. The Company has 50 years of history in the international
shipping industry and a fleet of 68 containerships, with a total
capacity of approximately 513,000 TEU and 39 dry bulk vessels with
a total capacity of approximately 2,900,000 DWT (including one
vessel that we have agreed to sell and two vessels we have agreed
to acquire). The Company also has a dry bulk operating platform
which charters in/out dry bulk vessels, enters into contracts of
affreightment, forward freight agreements and may also utilize
hedging solutions. The Company participates in a leasing business
that provides financing to third-party owners. The Company’s common
stock, Series B Preferred Stock, Series C Preferred Stock, Series D
Preferred Stock and Series E Preferred Stock trade on the New York
Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”,
“CMRE PR D” and “CMRE PR E”, respectively.
Forward-Looking Statements
This press release contains “forward-looking
statements”. In some cases, you can identify these statements by
forward-looking words such as “believe”, “intend”, “anticipate”,
“estimate”, “project”, “forecast”, “plan”, “potential”, “may”,
“should”, “could” and “expect” and similar expressions. These
statements are not historical facts but instead represent only the
Company’s belief regarding future results, many of which, by their
nature, are inherently uncertain and outside of the Company’s
control. It is possible that actual results may differ, possibly
materially, from those anticipated in these forward-looking
statements. For a discussion of some of the risks and important
factors that could affect future results, see the discussion in the
Company’s Annual Report on Form 20-F (File No. 001-34934) under the
caption “Risk Factors”.
Company Contacts: Gregory Zikos -
Chief Financial Officer Konstantinos Tsakalidis - Business
Development, Investor Relations
Costamare Inc., Monaco Tel: (+377) 93 25 09 40
Email: ir@costamare.com
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