Costamare Inc. Announces Pricing of its 7.625% Series B Preferred Stock


Costamare Inc. Announces Pricing of its 7.625% Series B Preferred Stock

ATHENS, Greece--(BUSINESS WIRE)-- Costamare Inc. (the "Company") (NYS: CMRE) announced today that its offering of 2,000,000 shares of its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share (the "Series B Preferred Stock"), was priced at $25.00 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be $50,000,000. The Company has also granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of the Series B Preferred Stock. Dividends will be payable on the Series B Preferred Stock at a rate of 7.625% per annum of the stated liquidation preference. Following the offering, the Company intends to file an application to list the Series B Preferred Stock on the New York Stock Exchange.

The Company plans to use the net proceeds of the offering for general corporate purposes, including making vessel acquisitions or investments.

Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering, which will be made under an effective shelf registration statement.

The offering is expected to close on or about August 6, 2013.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement and accompanying base prospectus relating to the offering has been filed with the Securities and Exchange Commission ("SEC") and is available at the SEC's website at When available, the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, email:, Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email: or Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, Attn: Prospectus Department, telephone: 1-800-221-1037.

The offering is subject to customary closing conditions.

This release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Costamare Inc.

Costamare Inc. is one of the world's leading owners and providers of containerships for charter. The Company has 38 years of history in the international shipping industry and at July 24, 2013 operated a fleet of 59 containerships, with a total capacity of approximately 336,400 TEU, including six newbuild containerships on order and three vessels acquired pursuant to the Framework Agreement with York Capital Management. In addition, jointly-owned entities under the Framework Agreement have recently contracted for two additional newbuilds. The Company's common stock trades on the New York Stock Exchange under the symbol "CMRE".

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".

Costamare Inc., Athens, Greece
Gregory G. Zikos - Chief Financial Officer
Konstantinos Tsakalidis - Business Development
(+30) 210-949-0000
Investor Relations:
Allison & Partners, New York
Gus Okwu, (+1) 646-428-0638

KEYWORDS: United States Europe North America Greece New York


The article Costamare Inc. Announces Pricing of its 7.625% Series B Preferred Stock originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.