SCHEDULE: Wexford Capital Discloses 10.23% Stake in C3is Inc.

Wexford Capital LP and its affiliates have reported a 10.23% beneficial ownership stake in C3is Inc. common stock as of September 22, 2025.

Summary

• Wexford Capital LP, Wexford GP LLC, Charles E. Davidson, and Joseph M. Jacobs (collectively, the "Reporting Persons") have jointly filed a Schedule 13G.
• The filing reports beneficial ownership of 110,382 shares of C3is Inc. Common Stock, par value $0.01 per share.
• This aggregate amount represents 10.23% of C3is Inc.'s outstanding Common Stock.
• The ownership percentage is calculated based on 1,079,208 shares of Common Stock issued and outstanding as of August 31, 2025, as reported by C3is Inc. in its Form F-1 Registration Statement filed on September 3, 2025.
• The Reporting Persons share both voting and dispositive power over the 110,382 shares.
• The securities were acquired directly from the Issuer by certain Wexford Funds (Wexford Spectrum Trading Limited, Wexford Catalyst Trading Limited, and Wexford Focused Trading Limited).
• The Reporting Persons disclaim beneficial ownership of the securities held by the Wexford Funds, except for Charles E. Davidson and Joseph M. Jacobs to the extent of their respective pecuniary interests therein.
• The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would significantly alter sentiment positively or negatively regarding the issuer's performance or prospects.

Positives

• Wexford Capital LP and its affiliates have disclosed a significant beneficial ownership stake of 10.23% in C3is Inc. common stock, indicating institutional interest.

Negatives

• No explicit negatives regarding C3is Inc. or its operations are disclosed in this ownership filing.

Risks

• No specific risks related to C3is Inc.'s operations or financial health are disclosed in this ownership filing.

Future Outlook

No forward-looking statements or guidance regarding C3is Inc.'s operations or financial performance are provided in this ownership disclosure.

Industry Context

This filing indicates a significant passive investment by a financial institution in C3is Inc., a common occurrence in the public markets. It does not provide broader industry trend analysis.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which may be viewed as a positive signal of confidence in the company.

Next Steps

• The Reporting Persons will continue to monitor their investment in C3is Inc.
• Further Schedule 13G/A amendments will be filed if there are material changes to beneficial ownership.

Key Dates

Recommendation

This Schedule 13G filing primarily discloses a significant passive ownership stake by Wexford Capital LP and its affiliates in C3is Inc. While the presence of an institutional investor holding over 10% of the common stock can be viewed as a positive signal of confidence, the filing itself does not provide sufficient financial or operational details about C3is Inc. to warrant a 'buy' or 'sell' recommendation. The reporting persons explicitly state the securities were not acquired for the purpose of influencing control. Therefore, a 'hold' recommendation is appropriate, pending further analysis of the company's financial performance and strategic direction.

Keywords

C3is Inc., Wexford Capital, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing