Company: ASC
Filing Date: 2025-05-07
Form Type: 6-K
Source: 0001558370-25-006618
Chunk: 12

Company: Ardmore Shipping Corp
Filing Date: 2025-05-07
Form: 6-K
Chunk 12
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 ​                            | $                  |         -3,582 | ​ | ​ |        -13,449 |
| Net cash (used in) financing activities   | ​                            | $                  |        -22,216 | ​ | ​ |        -33,910 |

Cash provided by operating activities For the three months ended March 31, 2025, net cash provided by operating activities was $26.3 million compared to net cash provided by operating activities of $49.2 million for the three months ended March 31, 2024. The movement in net cash provided by operating activities was primarily due to lower net income of $6.3 million for the three months ended March 31, 2025 compared with $39.2 million for the three months ended March 31, 2024, along with a decrease in receivables of $13.1 million during the three months ended March 31, 2025, compared to an increase in receivables of $4.1 million during the three months ended March 31, 2024. Cash (used in) investing activities For the three months ended March 31, 2025, net cash used in investing activities was $3.6 million. Payments for the acquisition of vessels and vessel equipment were $2.4 million. Advance payments for ballast water and scrubber systems were $1.2 million and payments for other non-current assets were $0.05 million. For the three months ended March 31, 2024, net cash used in investing activities was $13.4 million, primarily due to an $8.4 million deposit paid for the acquisition of the Ardmore Gibraltar.Payments for the acquisition of vessels and vessel equipment were $4.8 million, and payments for other non-current assets were $0.2 million for the three months ended March 31, 2024. Cash (used in) financing activities For the three months ended March 31, 2025, net cash used in financing activities was $22.2 million. Repayments under revolving credit facilities totaled $43.3 million and proceeds from revolving credit facilities were $25.0 million. Payment of cash dividends on our shares of common stock was $3.2 million. Dividend payments on shares of our Series A Redeemable Preferred Stock were $0.6 million. For the three months ended March 31, 2024, net cash used in financing activities was $33.9 million. Repay