CAPITAL Clean Energy Carriers has engaged investment bank Jefferies for an at-the-market share offering to raise up to $75m.

According to the prospectus, the Evangelos Marinakis-controlled owner intends using the proceeds for vessel acquisitions and repayment of indebtedness or working capital.

Under the sale agreement, Jefferies will earn a 2.5% commission on the gross proceeds of the sale.

The offering for up to about 4.1m shares is equivalent to about 7% of the company’s existing common stock and is being held pursuant to a recent so-called “shelf” registration authorising up to $500m in potential securities sales.

Greece-based CCEC, which owns 12 liquefied natural gas carriers on the water in addition to three legacy container vessels, already has an ambitious programme of newbuildings for delivery over the next two and a half years.

This includes another six 174,000 cu m LNG carriers under construction at HD Hyundai Samho that were among the 11 newbuildings Marinakis sold to the public company for $3.1bn back in 2023.

Last June, CCEC announced an additional $756m investment in 10 new gas carriers, including four unique 22,000 cu m multi-gas carriers that can carry liquid CO2and six medium gas carriers of 40,000-45,000 cu m, which can carry ammonia.

A corporate presentation last November said the newbuilding programme was supported by multiple sources of funding and identified the amount of additional equity required as $78m.

CCEC’s share price on Nasdaq closed on Monday night at $18.50, giving the company a market capitalisation of nearly $1.1bn.

Last August, the owner converted from a limited partnership to a corporation and changed its name from Capital Product Partners.

Following the conversion Marinakis controlled about 59% of the company through Capital Maritime & Trading and other privately held affiliates.