Euroseas and Citi Join Forces

About two weeks ago, Euroseas, utilizing its existing shelf registration, entered into a continuous offering program equity distribution agreement (“COPED”) with Citi to sell up to 7 million shares of common stock from time to time through Citi as a sales agent. Under the terms of this equity distribution agreement, Citi may act as a principal and purchase shares at a price agreed upon at the time of sale. For its services Citi will be paid a commission of 2% of the gross sales price. Proceeds will be used for general corporate purposes and to fund vessel acquisitions.

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