Research analysts covering C3is.
Recent press releases and 8-K filings for CISS.
C3is Inc. implements reverse stock split
CISS
Accounting Changes
Delisting/Listing Issues
- C3is Inc. effected a one-for-20 reverse stock split of its common stock, effective January 25, 2026, with trading on a split-adjusted basis beginning January 26, 2026, on The Nasdaq Capital Market.
- The reverse stock split reduced the number of outstanding shares from approximately 24.7 million to approximately 1.23 million.
- No fractional shares were issued, with stockholders receiving a cash payment, and outstanding warrants and Series A Convertible Preferred Stock will be proportionately adjusted.
Jan 26, 2026, 9:01 PM
C3is Inc. Announces Reverse Stock Split
CISS
Delisting/Listing Issues
- C3is Inc. announced a one-for-twenty (1-for-20) reverse stock split of its common stock, par value $0.01 per share.
- The reverse stock split will take effect at 11:59 pm Eastern Time on January 25, 2026, with the Company's common stock beginning to trade on a split-adjusted basis on The Nasdaq Capital Market as of the opening of trading on January 26, 2026.
- The purpose of the reverse stock split is to increase the market price of the Company's common stock and satisfy the minimum bid price requirement for maintaining listing on Nasdaq.
- This action will reduce the number of outstanding shares of common stock from approximately 20.5 million shares to approximately 1.02 million shares.
Jan 22, 2026, 1:43 PM
C3is Inc. Announces Reverse Stock Split
CISS
Delisting/Listing Issues
- C3is Inc. will effect a one-for-twenty (1-for-20) reverse stock split of its common stock, becoming effective on January 26, 2026.
- The reverse stock split aims to increase the market price of the common stock to satisfy the minimum bid price requirement for maintaining listing on Nasdaq.
- This action will reduce the number of outstanding shares from approximately 20.5 million to about 1.02 million.
Jan 22, 2026, 1:30 PM
C3is Inc. Announces Product Tanker Acquisition
CISS
M&A
New Projects/Investments
- C3is Inc. has entered an agreement to acquire a 2011 South Korean-built product tanker with 47,203 deadweight tons (dwt) capacity for a purchase price of $22.9 million.
- The vessel is expected to be delivered between Q1 and Q2 2026, and the company has the option to pay one year after the purchase agreement date without interest.
- Following this acquisition, C3is Inc.'s fleet will total 6 vessels with a combined capacity of 310,667 dwt.
- The transaction was with an entity affiliated with the Vafias family and was approved by independent directors based on independent valuations.
Jan 20, 2026, 9:51 PM
C3is Inc. completes registered offering for $9.0 million
CISS
- C3is Inc. completed a registered offering on December 12, 2025, raising approximately $9.0 million in aggregate gross proceeds before fees and expenses.
- The offering consisted of 7,500,000 units, including 1,700,000 common units and 5,800,000 pre-funded units.
- Each common unit comprised one common share, one Class D Warrant, and one Class E Warrant, while each pre-funded unit included one pre-funded warrant, one Class D Warrant, and one Class E Warrant.
- The Class D Warrants have an initial exercise price of $1.20 and are subject to automatic reset based on market conditions, with a Floor Price of $0.344.
- Aegis Capital Corp. acted as the placement agent for the offering, earning a 6.0% placement commission.
Dec 12, 2025, 9:30 PM
C3is Inc. Reports Q3 and Nine Months 2025 Financial Results
CISS
Earnings
New Projects/Investments
Debt Issuance
- C3is Inc. reported Net Income of $2.7 million and Basic EPS of $2.32 for the third quarter ended September 30, 2025, with revenues of $4.8 million. For the nine months ended September 30, 2025, Net Income was $5.3 million and Basic EPS was $3.34.
- The company's fleet operational utilization for Q3 2025 was 67.7%, primarily due to the $1.7 million drydocking of its Aframax tanker, the Afrapearl II, in August 2025.
- C3is Inc. has repaid all bank loans and met its $59.2 million capital expenditure commitments without external financing, resulting in all vessels being unencumbered. As of September 30, 2025, cash and cash equivalents and time deposits totaled $6.6 million.
Nov 18, 2025, 9:05 PM
C3is Reports Q3 2025 Financial and Operational Results
CISS
Earnings
New Projects/Investments
Demand Weakening
- C3is reported a net income of $5.3 million for the first nine months of 2025, marking a 281% increase compared to a net loss in the same period of 2024, with EBITDA reaching $10.3 million, up 245%.
- Voyage revenues for the first nine months of 2025 decreased by 26% to $24.2 million, primarily due to the 74-day dry docking of the Haframx II tanker.
- The company maintains a debt-free balance sheet, having repaid all CapEx obligations totaling EUR 59.2 million without resorting to bank loans.
- The C3is fleet comprises three handy-sized dry bulk carriers and one Haframx oil tanker, with an average age of 14.8 years at the end of Q3 2025, and all vessels are unencumbered.
Nov 18, 2025, 3:00 PM
C3is Reports Q3 2025 Financial and Operational Results
CISS
Earnings
New Projects/Investments
- For the first nine months of 2025, C3is reported a net income of EUR 5.26 million, an increase of 281% compared to a net loss of EUR 3 million in the prior year period, with EPS of EUR 3.34.
- Voyage revenues decreased by 24% to EUR 24.2 million for the first nine months of 2025, primarily due to the 74-day dry docking of the Haframx II tanker.
- The company achieved an EBITDA of EUR 10 million, representing a 245% increase compared to EUR 3 million in the same period of 2024.
- C3is maintains a debt-free balance sheet, having repaid all CapEx obligations totaling EUR 59.2 million without bank loans, and settled the final EUR 14.6 million balance for the EcoSpeedFire in April 2025.
Nov 18, 2025, 3:00 PM
C3is Reports Q3 and 9M 2025 Financial and Operating Results
CISS
Earnings
New Projects/Investments
- For the first nine months of 2025, C3is reported a Net Income of $5.3 million and EBITDA of $10.3 million, representing increases of 281% and 245% respectively, compared to the same period in 2024.
- Voyage Revenues decreased by 26% to $24 million for the first nine months of 2025, primarily due to the dry docking of the Aframax tanker in August 2025, which also led to a 40% lower TCE rate and 79.4% operational utilization for the fleet.
- As of September 30, 2025, the company maintained a cash balance of $6.6 million and had no outstanding bank debt, having fully settled $59.2 million in CAPEX by April 2025 without resorting to bank loans.
- The total current fleet capacity stands at 213,464 dwt across 4 ships, with an average age of 14.8 years as of September 30, 2025.
Nov 18, 2025, 3:00 PM
C3is Reports Strong Net Income and EBITDA Growth for First Nine Months of 2025 Despite Revenue Decline
CISS
Earnings
Debt Issuance
- C3is reported a net income of $5.3 million and EPS of $3.5 for the first nine months of 2025, representing a 281% increase in net income compared to the same period in 2024.
- EBITDA increased by 245% to $10.3 million for the first nine months of 2025.
- Voyage revenues for the first nine months of 2025 decreased by 26% to $24.2 million, primarily due to the 74-day dry docking of the Haframx II tanker.
- The company has no bank debts, having repaid EUR 59.2 million in CapEx obligations, including the final EUR 14.6 million for the EcoSpeedFire in April 2025.
- C3is operates a fleet of three handy-sized dry bulk carriers and one Haframx oil tanker, with an average fleet age of 14.8 years at the end of Q3 2025.
Nov 18, 2025, 3:00 PM
Quarterly earnings call transcripts for C3is.
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