Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that its offering of 12,000,000 shares of its common stock, upsized from 11,000,000 shares of its common stock, was priced at $6.00 per share.

The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $72 million. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase approximately $10 million of shares in the offering. The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of its common stock.
The Company plans to use the net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes, which may include repayments of indebtedness.
Morgan Stanley, Wells Fargo Securities, J.P. Morgan, Citigroup and Barclays 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 December 5, 2016.
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 http://www.sec.gov. When available, the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or telephone: 1-800-326-5897, or email: This email address is being protected from spambots. You need JavaScript enabled to view it.; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or telephone: 1-866-803-9204; Citigroup, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or telephone: 1-800-831-9146; or from Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email This email address is being protected from spambots. You need JavaScript enabled to view it., or telephone 1-888- 603-5847.
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.