StealthGas pulls stock offering, announces CFO departure

Harry N. Vafias - StealthGas President, CEO and member of the Board of Directors

DECEMBER 11, 2013 —  On Monday, Harry N. Vafias led gas carrier specialist StealthGas Inc. (NASDAQ: GASS) announced an underwritten public offering of 10,000,000 shares of its common stock. Yesterday it announced that Harry Charogiannis, who joined the company as Chief Financial Officer in September 2013, had “resigned to pursue other employment opportunities.” Today, the Athens headquartered company said that it “would not proceed with its previously announced public offering of common stock at this time as it is not in the best interests of its stockholders.”

Konstantinos Sistovaris has assumed the position of Chief Financial Officer of the company on an interim basis until a suitable replacement is found. Mr. Sistovaris, who had previously served as the company’s CFO, has since September 2013 been performing other duties at the company’s affiliated manager Stealth Maritime S.A