Size Does Not Matter

Following in the footsteps of it’s earlier offering in July, which raised net proceeds of $16.7 million, FreeSeas Inc. has filed a preliminary registration statement for the sale of up to $15 million of common stock in an offering to be led by Dahlman Rose. The new registration statement provides greater flexibility to raise capital than its earlier registration statement. In preparation for this as well as future offerings, shareholders had earlier approved an increase in the authorized number of shares of stock from 40 million to 250 million.

Proceeds will be used for the purchase of

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