Company: ASC
Filing Date: 2025-11-05
Form Type: 6-K
Source: 0001104659-25-106687
Chunk: 13

Company: Ardmore Shipping Corp
Filing Date: 2025-11-05
Form: 6-K
Chunk 13
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 the nine months ended September 30, 2024.

Gain on Vessel Sold.We did not sell any vessels during the nine months ended September 30, 2025. During the nine months ended September 30, 2024, we recorded a gain of $12.3 million relating to the sale of the Ardmore Seafarerin April 2024.

Interest Expense and Finance Costs.Interest expense and finance costs for the nine months ended September 30, 2025 were $3.7 million, a decrease of $2.0 million from $5.7 million for the nine months ended September 30, 2024. The decrease was due to prepayment of the finance leases during the nine months ended September 30, 2024 which resulted in lower interest expense and finance costs during the nine months ended September 30, 2025.

Amortization of deferred finance fees for the nine months ended September 30, 2025 was $0.8 million, generally consistent with $0.9 million for the nine months ended September 30, 2024.

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Loss Gain on Extinguishment of Debt.We recorded a loss on extinguishment of debt of $0.5 million during the nine months ended September 30, 2025. Loss on extinguishment of debt relates to the partial write-off of deferred finance fees associated with our previous revolving credit facility. We recorded no gain or loss on extinguishment of debt during the nine months ended September 30, 2024.

Gain on Extinguishment of Finance Leases.We did not record a gain or loss on extinguishment of finance leases during the nine months ended September 30, 2025. We recorded a gain on extinguishment of finance leases of $1.4 million during the nine months ended September 30, 2024. This was related to the early prepayment of the finance lease related to the exercises of vessel purchase options for the Ardmore Seawolf and Ardmore Seahawk in June 2024.

LIQUIDITY AND CAPITAL RESOURCES

Our primary sources of liquidity are cash and cash equivalents, cash flows provided by our operations, our undrawn credit facilities, and capital raised through financing transactions. As of September 30, 2025, we had $296.0 million in liquidity available, including cash and cash equivalents of $47.1 million (December 31, 2024: $47.0 million) and amounts