Company: ASC
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001558370-25-009775
Chunk: 31

Company: Ardmore Shipping Corp
Filing Date: 2025-07-30
Form: 6-K
Chunk 31
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 statements net of the related stock issuance costs. As part of the issuance of the Series A Preferred Stock to Maritime Partners, the Company granted to Maritime Partners a profits interest of 20% of all cash or in-kind distributions and proceeds received in respect of the E1 investment which profits interest distributions can only be made after the Company receives a return of its initial investment of $ 9.3 million. As the agreement includes a mandatory redemption date for the profits interest that is the tenth anniversary of the date of the agreement, it renders the profits interest as a liability which requires it to be marked to fair value each period with changes in the fair value recorded directly in earnings. The Company recorded a liability of $ 0.3million, which is included in non-current liabilities in the condensed consolidated balance sheet as of June 30, 2025.

8. Subsequent Events During July 2025, the Company agreed to acquire twomodern, high-quality, 2017 Korean-built MR tankers for a purchase price of $ 32.8million each. Deliveries of these vessels are expected to be completed during the quarter ending September 30, 2025. In July 2025, the Company closed a $ 350million revolving credit facility on favorable terms, secured by 20of the Company’s owned vessels. The facility is priced at SOFR plus a margin of 1.80% and matures in 2031. The revolving credit facility comprises Nordea Bank, Skandinaviska Enskilda Banken AB (publ), ABN AMRO Bank, and Danske Bank A/S. Consistent with the Company’s variable dividend policy, the Board of Directors declared a cash dividend on July 30, 2025, of $ 0.07per common share for the quarter ended June 30, 2025. The cash dividend of approximately $ 3.0million will be paid on September 12, 2025, to all shareholders of record on August 29, 2025.

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