09:09 AM EDT, 07/12/2024 (MT Newswires) -- Icon Energy said Friday it priced its initial public offering of nearly 1.3 million common shares at $4 apiece for about $5 million.

The shipping company said the shares will start trading on the Nasdaq on Friday under the ticker ICON.

The company granted underwriters a 45-day option to buy up to 187,500 additional shares at the IPO price, less the underwriting discount, to cover any overallotments, Icon Energy said.

The offering is expected to close Monday, it added.