C3is Inc. Completes Public Offering of 120M Units
Ticker: CISS · Form: 6-K · Filed: Mar 19, 2024 · CIK: 1951067
Sentiment: neutral
Topics: offering, equity, financing
TL;DR
C3is Inc. just sold 120M units in a public offering, raising cash.
AI Summary
On March 19, 2024, C3is Inc. completed a public offering of 120,000,000 units. These units comprised 70,000,000 common units, with each common unit including one common share and one-half of a Class C-1 Warrant. The offering was conducted as a firm commitment underwritten public offering.
Why It Matters
This offering provides C3is Inc. with capital, potentially for operational expansion or debt reduction, which could impact its future financial performance and stock value.
Risk Assessment
Risk Level: medium — Public offerings can dilute existing shareholders and signal a need for capital, which may indicate underlying financial pressures.
Key Numbers
- 120,000,000 units — Units Offered (Total number of units sold in the public offering.)
- 70,000,000 common units — Common Units Offered (Specific component of the total units offered, each containing a share and a warrant.)
Key Players & Entities
- C3is Inc. (company) — Registrant
- March 19, 2024 (date) — Date of offering completion
- 120,000,000 (dollar_amount) — Number of units offered
- 70,000,000 (dollar_amount) — Number of common units offered
FAQ
What is the total number of units C3is Inc. offered in its public offering?
C3is Inc. offered a total of 120,000,000 units.
When did C3is Inc. complete this public offering?
The company completed the offering on March 19, 2024.
What does each common unit consist of?
Each common unit consists of one common share and one-half of a Class C-1 Warrant.
What type of offering was this for C3is Inc.?
It was a firm commitment underwritten public offering.
What is the par value of C3is Inc.'s common shares?
The par value of the common shares is $0.01 per share.
Filing Stats: 795 words · 3 min read · ~3 pages · Grade level 9 · Accepted 2024-03-19 16:31:31
Key Financial Figures
- $0.01 — nsisting of one common share, par value $0.01 per share, of the Company (Common Share
- $0.075 — ne Common Share at an exercise price of $0.075 per Common Share or pursuant to an alte
- $0.085 — ne Common Share at an exercise price of $0.085 per Common Share, and (b) 50,000,000 pr
- $6.0 million — able by the Company, were approximately $6.0 million. Attached to this report on Form 6-K
- $6.0 Million — 4 titled C3is Inc. Announces Closing of $6.0 Million Underwritten Public Offering. A descr
- $1.05 — 0 Common Shares at an exercise price of $1.05 per share, Class B-1 Warrants to purcha
- $0.10 — 0 Common Shares at an exercise price of $0.10 per share or pursuant to an alternative
- $0.0875 — 0 Common Shares at an exercise price of $0.0875 per share and 600,000 Series A Converti
- $25.00 — $0.01 per share, liquidation preference $25.00 per share and conversion price of $0.03
- $0 — 25.00 per share and conversion price of $0.03241, subject to adjustment. EXHIBIT
Filing Documents
- d812666d6k.htm (6-K) — 16KB
- d812666dex11.htm (EX-1.1) — 199KB
- d812666dex41.htm (EX-4.1) — 113KB
- d812666dex42.htm (EX-4.2) — 115KB
- d812666dex43.htm (EX-4.3) — 81KB
- d812666dex991.htm (EX-99.1) — 10KB
- g812666dsp92.jpg (GRAPHIC) — 4KB
- 0001193125-24-071359.txt ( ) — 539KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 19, 2024 C3IS INC. By: /s/ Nina Pyndiah Name: Nina Pyndiah Title: Chief Financial Officer