Costamare, an old-line, family-owned Greek containership owner priced its offering of 13.3 million shares at $12, well below its proposed price range of $15-$17. The company raised $160 million in gross proceeds, which will be used for expansion of its containership fleet, and it currently has a market valuation of $724 million. Morgan Stanley and BofA Merrill Lynch acted as joint book-running managers for the IPO, and the stock is expected to commence trading on the NYSE under the ticker symbol CMRE on Thursday.
