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Buy (2.67 out of 4)
19th percentile
(ranked lower than approx. 81% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com
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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, March 19, 6:46 AM

Slide #205. Costamare Inc. Preferred Stock Offering

Company: Costamare Inc. (NYSE:CMRE)
Date announced: 1/25/2018
Shares Offered: 4,600,000
Date of Pricing: 1/25/2018
Price Per Share: $25.00
Preferred Stock Offering Details: Costamare Inc. (the "Company") (NYSE:CMRE) announced today that it plans to offer its Series E Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share (the "Series E Preferred Stock") to the public. Members of the Konstantakopoulos family, who in the aggregate own a majority of our common stock, have indicated an intention to purchase up to an aggregate of approximately $7,500,000 of our Series E Preferred Stock in this offering at the public offering price. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series E Preferred Stock. Following the offering, the Company intends to file an application to list the Series E Preferred Stock on the New York Stock Exchange. -updated 1/25- Costamare Inc. (the "Company") (NYSE:CMRE) announced today that its offering of 4,600,000 shares of its 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share (the "Series E Preferred Stock"), was priced at $25.00 per share. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase approximately $7,500,000 of our Series E Preferred Stock in this offering at the public offering price. The Company has also granted the underwriters a 30-day option to purchase up to an additional 686,000 shares of the Series E Preferred Stock. Dividends will be payable on the Series E Preferred Stock at a rate of 8.875% per annum of the stated liquidation preference. Following the offering, the Company intends to file an application to list the Series E Preferred Stock on the New York Stock Exchange.

Costamare is a holding company. Through its subsidiaries, Co. is an international owner of containerships, chartering its vessels to liner companies. Co.'s containerships have low unscheduled off-hire days, with fleet utilization levels, excluding scheduled dry dockings. Co.'s vessels are managed by Costamare Shipping Company S.A. (Costamare Shipping) which is controlled by Co.'s chairman and chief executive officer. Costamare Shipping may subcontract certain services to other affiliated managers, or to V.Ships Greece Ltd. or, subject to Co.'s consent, to other third party sub-managers.

Preferreds: CMRE.PRB, CMRE.PRC, CMRE.PRD, CMRE.PRE


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Name:  Costamare Inc
Website:  www.costamare.com
Sector:  Shipping
Number of ETFs Holding CMRE:  12 (see which ones)
Total Market Value Held by ETFs:  $32,741,890
Total Market Capitalization:  $1,366,000,000
% of Market Cap. Held by ETFs:  2.40%
 

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