Capital Structure |
6 Months Ended | |||||||||||
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Jun. 30, 2026 | ||||||||||||
| Capital Structure [Abstract] | ||||||||||||
| Capital Structure |
Details of the Company’s common stock and warrants are discussed in Note 11 of the consolidated financial statements for the year ended December 31, 2025,
included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026 and are supplemented by the below new activities into the six-month period ended June 30, 2026.
On May 20, 2026, the Company declared a dividend
of $0.10 per common share for the first quarter of 2026 to all shareholders of record as of June 29, 2026 (Note 17). The dividend amounted to $954
was paid on July 10, 2026 and is included in “Dividends payable” in the accompanying condensed consolidated balance sheets.
On March 10, 2026, the Company
declared a regular quarterly cash dividend of $0.10 per common share for the fourth quarter of 2025 to all shareholders of record as
of March 27, 2026. The dividend amounted to $954 and was paid on April 10, 2026.
On January 9, 2026, the Company paid a regular quarterly cash dividend of $818 for the third quarter of 2025 to all shareholders of record as of December 29, 2025. Total dividends declared in the six-months period ended June 30, 2026 amounted to $1,908.
During the six-month period ended June 30, 2026, no shares were issued from Class A warrants’ exercises. As of June 30, 2026, 6,962,770 Class A
warrants remained outstanding. The exercise price of the Class A warrants is $2.25 per common share. All warrants are classified in
equity, according to the Company’s accounting policy. The warrants contain a cashless exercise provision, whereby if at the time of exercise, there is no effective registration statement, then the warrants can be exercised by means of a
cashless exercise as disclosed in the warrant’s agreement.
As of June 30, 2026, the number of common shares that can potentially be issued under the outstanding Class A warrants were 6,962,770.
During the six-month period ended June 30, 2026, the Company repurchased 9,506 of its outstanding common shares at an average price of approximately $1.74
per share for a total of $17, inclusive of commissions and fees. All the repurchased shares were cancelled and restored to the
status of authorized but unissued shares as of June 30, 2026.
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