Sichenzia Ross Friedman Ference LLP Advises FreeSeas Inc. on $25.0 Million Public Offering of Preferred Stock and Warrants

NEW YORK, June 5, 2014–New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, advised FreeSeas Inc. (NASDAQ: FREE), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of five Handysize and one Handymax vessels, in a recently completed $25 million registered direct public offering of Series D Convertible Preferred Stock and Series C Warrants. The securities consisted of one share of the Company’s Series D Convertible Preferred Stock and 184 Series C Warrants, exercisable for five years at an initial price of $1.42 per share. Each share of Series D Preferred Stock has a stated value of $100 and is convertible into a number of shares of common stock equal to $100 divided by $1.09. The Sichenzia Ross Friedman Ference LLP team was led by partners Marc J. Ross and James M. Turner.

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Sichenzia Ross Ference Carmel LLP

SRFC is a full-service law firm with nationally recognized corporate, securities, and litigation practices that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRFC’s renowned litigation and regulatory department specializes in defending broker-dealers, registered persons, public and private corporations, and individuals in investigations and enforcement proceedings before the SEC, FINRA, and other regulatory bodies, as well as litigations and arbitrations across all forums in the securities industry, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations.

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