Contact Information: Contact: Investor Relations/Financial Media: Capital Link, Inc. Nicolas Bornozis President 230 Park Avenue Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: nbornozis@capitallink.com www.capitallink.com Company: Oceanaut, Inc. Christopher Georgakis President & Chief Executive Officer Oceanaut, Inc. 17th Km National Road Athens-Lamia & Finikos Street 145 64 Nea Kifisia Athens, Greece Tel: 011-30-210-62-09-520 Fax: 011-30-210-62-09-528 E-Mail: info@oceanautinc.com www.oceanautinc.com
Oceanaut, Inc. Completes Initial Public Offering
| Source: Oceanaut Inc.
ATHENS, GREECE -- (MARKET WIRE) -- March 6, 2007 -- Oceanaut Inc. (AMEX : OKN.U ) (the "Company")
today announced that it has completed its initial public offering of
18,750,000 units at an offering price of $8.00 per unit. Prior to the
closing of the public offering, the Company consummated a private placement
of 1,125,000 units at $8.00 per unit price and 2,000,000 warrants at $1.00
per warrant to its sponsor, Excel Maritime Carriers Ltd. (NYSE : EXM ). Each
unit issued in the initial public offering and the private placement
consists of one share of the Company's common stock and one warrant to
purchase one share of common stock. The initial public offering and the
private placement generated gross proceeds in an aggregate of $161,000,000
to the Company.
Citigroup Global Markets Inc. acted as the sole bookrunning manager and
Maxim Group LLC acted as co-manager of the initial public offering. The
offering is being made only by means of a prospectus, copies of which may
be obtained from Citigroup Corporate and Investment Banking, Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220.
A registration statement relating to these securities was filed and
declared effective by the Securities and Exchange Commission on March 1,
2007. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities of the Company, nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities law of any such state or jurisdiction.
About Oceanaut, Inc.
Oceanaut, Inc. (AMEX : OKN.U ) is a blank check company formed for the
purpose of acquiring, through a merger, capital stock exchange, asset
acquisition, stock purchase or other similar business combination, vessels
or one or more operating businesses in the shipping industry.