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<font style="opacity:100; position:relative; ">As filed with the Securities and Exchange Commission on June 29, 2007</font>
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<font style="opacity:100; position:relative; ">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
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<font style="opacity:100; position:relative; ">SECURITIES AND EXCHANGE COMMISSION</font>
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<font style="opacity:100; position:relative; font-size:10pt;">WASHINGTON, D.C. 20549</font>
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<font style="opacity:100; position:relative; ">FORM S-8</font>
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<font style="opacity:100; position:relative; ">REGISTRATION STATEMENT</font>
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<font style="opacity:100; position:relative; ">under</font>
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<font style="opacity:100; position:relative; ">THE SECURITIES ACT OF 1933</font>
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<font style="opacity:100; position:relative; ">STEALTHGAS INC.</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">(Exact name of Registrant as Specified in its Charter)</font>
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<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Republic of the Marshall Islands</font></font></td>
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<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">N/A</font></font></td>
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<font style="opacity:100; position:relative; "> Incorporation or Organization)</font></font></td>
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<font style="opacity:100; position:relative; ">331 Kifissias Avenue</font>
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<font style="opacity:100; position:relative; ">Erithrea 14561</font>
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<font style="opacity:100; position:relative; ">Athens, Greece</font>
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<font style="opacity:100; position:relative; ">(011) (30) (210) 625 2849</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">(Address of Principal Executive Offices)</font>
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<font style="opacity:100; position:relative; ">STEALTHGAS INC. 2005 EQUITY COMPENSATION PLAN</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">(Full Title of the Plan)</font>
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<font style="opacity:100; position:relative; ">Puglisi &amp; Associates</font>
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<font style="opacity:100; position:relative; ">850 Library Avenue, Suite 204</font>
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<font style="opacity:100; position:relative; ">Newark, Delaware 19711</font>
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<font style="opacity:100; position:relative; ">(302) 738-6680</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">(Name, Address and Telephone Number of Agent for Service)</font>
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<font style="opacity:100; position:relative; ">Copy to:</font>
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<font style="opacity:100; position:relative; ">Stephen P. Farrell, Esq.</font>
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<font style="opacity:100; position:relative; ">Morgan, Lewis &amp; Bockius LLP</font>
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<font style="opacity:100; position:relative; ">101 Park Avenue</font>
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<font style="opacity:100; position:relative; ">New York, New York 10178</font>
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<font style="opacity:100; position:relative; ">(212) 309-6000</font>
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<font style="opacity:100; position:relative; ">Fax: (212) 309-6001</font>
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<font style="opacity:100; position:relative; ">CALCULATION OF REGISTRATION FEE</font>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">&nbsp;</font></font></td>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">&nbsp;</font></font></td>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">&nbsp;</font></font></td>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">&nbsp;</font></font></td>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Title of Each Class of</font>
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<font style="opacity:100; position:relative; ">Securities to be Registered</font></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amount to be</font>
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<font style="opacity:100; position:relative; ">Registered</font><sup style="vertical-align:top;"><font style="opacity:100; position:relative; ">(1)</font></sup></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Proposed</font>
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<font style="opacity:100; position:relative; ">Maximum Offering</font>
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<font style="opacity:100; position:relative; ">Price Per Share</font><sup style="vertical-align:top;"><font style="opacity:100; position:relative; ">(2)</font></sup></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Proposed</font>
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<font style="opacity:100; position:relative; ">Maximum Aggregate</font>
<br>
<font style="opacity:100; position:relative; ">Offering Price</font></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amount of</font>
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<font style="opacity:100; position:relative; ">Registration</font>
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<font style="opacity:100; position:relative; ">Fee</font><sup style="vertical-align:top;"><font style="opacity:100; position:relative; ">(3)</font></sup></font></td>
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<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-left: 10pt; text-indent: -10pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Common Stock, $0.01 par value</font></font></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">1,440,000 shares</font></font></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="bottom"><font style="opacity:100; position:relative; ">$</font></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="bottom"><font style="opacity:100; position:relative; ">17.50</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="bottom" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="bottom"><font style="opacity:100; position:relative; ">$</font></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="bottom"><font style="opacity:100; position:relative; ">25,200,000</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="bottom" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000; border-right: 1pt solid #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000;"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 3px double #000000"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="bottom"><font style="opacity:100; position:relative; ">$</font></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="bottom"><font style="opacity:100; position:relative; ">785</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 3px double #000000;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="bottom" align="left"><img src="spacer.gif" width="1"></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: 18pt; padding-left: 0pt;"><font style="opacity:100; position:relative; ">(1)</font></td>
<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: pt; "><font style="opacity:100; position:relative; ">Pursuant to Rule 416(c) under the Securities Act of 1933, to the extent any additional shares of common stock may be issued or issuable as a result of a stock split, stock dividend or other distribution declared at any time by the Board of Directors while this registration statement is in effect, this registration statement is hereby deemed to cover all such additional common stock.</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: 18pt; padding-left: 0pt;"><font style="opacity:100; position:relative; ">(2)</font></td>
<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: pt; "><font style="opacity:100; position:relative; ">Calculated pursuant to paragraphs (c) and (h) of Rule 457 (based upon the average of the reported high and low sales prices for the Registrant&rsquo;s Common Stock as reported on the Nasdaq Global Market on June&nbsp;25, 2007). The foregoing calculation is solely for the purpose of determining the registration fee.</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: 18pt; padding-left: 0pt;"><font style="opacity:100; position:relative; ">(3)</font></td>
<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt; padding-bottom: 6pt;   width: pt; "><font style="opacity:100; position:relative; ">Calculated pursuant to Section 6(b) of the Securities Act of 1933 as follows: Proposed maximum aggregate offering price multiplied by 0.0000307.</font></td>
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<font style="opacity:100; position:relative; ">&nbsp;&nbsp;&nbsp;&nbsp;</font>
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<font style="opacity:100; position:relative; ">EXPLANATORY NOTE</font>
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<font style="opacity:100; position:relative; ">This registration statement includes a form of prospectus to be used by certain individuals, who may be deemed to be affiliates, and other current or former employees of StealthGas Inc. in connection with the resale of shares of common stock which shares are registered pursuant to this registration statement.</font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">i</p>
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<font style="opacity:100; position:relative; ">PART I</font>
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<font style="opacity:100; position:relative; ">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</font>
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<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 10pt; text-indent: -10pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Item 1.</font></font></td>
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<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><u><font style="opacity:100; position:relative; ">Plan Information</font></u><font style="opacity:100; position:relative; ">.*</font></font></td>
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<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 10pt; text-indent: -10pt; padding-top: 8pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Item 2.</font></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 8pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><u><font style="opacity:100; position:relative; ">Registrant Information and Employee Plan Annual Information</font></u><font style="opacity:100; position:relative; ">.*</font></font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">*</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 438pt;"><font style="opacity:100; position:relative; ">Information required by Part I of Form S-8 will be sent or given to participants in the Plan as required by Rule&nbsp;428(b)(1) under the Securities Act of 1933, as amended (the &lsquo;&lsquo;Securities Act&rsquo;&rsquo;). The information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428(b) under the Securities Act and the Introductory Note to Part I of Form S-8.</font></td>
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<font style="opacity:100; position:relative; ">Prospectus</font>
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<font style="opacity:100; position:relative; ">STEALTHGAS INC.</font>
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<font style="opacity:100; position:relative; ">Common Stock</font>
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<font style="opacity:100; position:relative; ">Our principal business is providing international seaborne transportation services to LPG producers and users. This prospectus relates to the resale of shares of our common stock by our officers and directors and others who may be in a control relationship with us and by certain of our employees. The common stock which may be sold will be acquired by these individuals under written compensation contracts or pursuant to awards made, or upon the exercise of options or other equity incentive awards granted to them, under our 2005 Equity Compensation Plan.</font>
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<font style="opacity:100; position:relative; ">We will not receive any of the proceeds from these sales. We will pay all expenses in connection with this offering, other than commissions and discounts of underwriters, brokers, dealers or agents.</font>
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<font style="opacity:100; position:relative; ">Our shares of common stock are listed on the Nasdaq Global Market (Nasdaq: &lsquo;&lsquo;GASS&rsquo;&rsquo;). On June&nbsp;28,&nbsp;2007, the closing price of our common stock was $17.39 per share.</font>
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<font style="opacity:100; position:relative; ">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</font>
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<font style="opacity:100; position:relative; ">The date of this prospectus is June 29, 2007</font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">I-2</p>
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<font style="opacity:100; position:relative; ">We have not, nor has any individual named in this prospectus, authorized any person to give any information or to make any representation other than those contained in, or incorporated by reference into, this prospectus. This prospectus does not constitute an offer to sell or solicitation of an offer to buy.</font>
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<font style="opacity:100; position:relative; ">We have filed a registration statement on Form S-8 in respect of the common stock offered by this prospectus with the U.S. Securities and Exchange Commission, which we refer to as the SEC, under the Securities Act of 1933, as amended, which we refer to as the Securities Act. This prospectus does not contain all of the information contained in the registration statement. You should read this entire prospectus carefully as well as the registration statement for additional information.</font>
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<font style="opacity:100; position:relative; ">WHERE YOU CAN FIND MORE INFORMATION</font>
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<font style="opacity:100; position:relative; ">We must file annual, quarterly and special reports and other information with the SEC. You may read and copy any documents we file at the SEC&rsquo;s public reference rooms in Washington, D.C. Please call the SEC at 1-800-SEC-0330 for further information on the public reference facility. Our SEC filings are also available to the public from the SEC&rsquo;s web site at http://www.sec.gov.</font>
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<font style="opacity:100; position:relative; ">The SEC allows us to &lsquo;&lsquo;incorporate by reference&rsquo;&rsquo; information into this prospectus, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is considered to be part of this prospectus. Information in this prospectus may update documents previously filed with the SEC, and later information that we file with the SEC will automatically update this prospectus. We incorporate by reference the documents listed below and any future filings made with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange Act, prior to the termination of the offering:</font>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">Our Annual Report on Form 20-F for the fiscal year ended December&nbsp;31,&nbsp;2006, filed with the SEC on June&nbsp;5,&nbsp;2007;</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">Our Current Report on Form 6-K filed with the SEC on June 29, 2007; and</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; font-style: normal; width: 20pt;"></td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">Our Form 8-A (File Number 000-51559) filed with the SEC on October&nbsp;4,&nbsp;2005, including any amendments or reports filed for the purpose of updating the description of our common stock that is incorporated by reference therein.</font></td>
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<font style="opacity:100; position:relative; ">You may request a copy of these filings at no cost, by writing or telephoning us at the following address:</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">StealthGas Inc.</font>
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<font style="opacity:100; position:relative; ">331 Kifissias Avenue</font>
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<font style="opacity:100; position:relative; ">Erithrea 14561</font>
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<font style="opacity:100; position:relative; ">Athens, Greece</font>
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<font style="opacity:100; position:relative; ">Attention: Secretary</font>
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<font style="opacity:100; position:relative; ">+011 30 210 6250 001</font>
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<font style="opacity:100; position:relative; font-weight: normal;font-style:normal;">Information on our website is not part of this prospectus.</font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">I-3</p>
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<font style="opacity:100; position:relative; ">OUR BUSINESS</font>
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<font style="opacity:100; position:relative; ">Our principal business is providing international seaborne transportation services to LPG producers and users by carrying various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. We serve industrial companies and energy traders as well as national and independent energy companies.</font>
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<font style="opacity:100; position:relative; ">PROCEEDS</font>
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<font style="opacity:100; position:relative; ">We will not receive any of the proceeds from the sale of shares of our common stock by any individuals named in any prospectus supplement hereto.</font>
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<font style="opacity:100; position:relative; ">SELLING STOCKHOLDERS</font>
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<font style="opacity:100; position:relative; ">Our officers and directors as well as certain of our current and former employees may use this prospectus to sell our common stock. These selling stockholders will be named in a supplement to this prospectus, together with the number of shares owned by such individuals and the number of shares that may be sold under this prospectus, as supplemented, by such individuals.</font>
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<font style="opacity:100; position:relative; ">PLAN OF DISTRIBUTION</font>
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<font style="opacity:100; position:relative; ">The shares of common stock covered by this prospectus will be sold, if at all, by the individuals named in a prospectus supplement hereto or by donees, pledgees or others on their behalf, and not by us. The shares may be sold from time to time as follows:</font>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">on the Nasdaq Global Market, in the over-the-counter market, on an inter-dealer quotation system or on another national securities exchange (any of which may involve crosses and block transactions);</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">to purchasers directly;</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">in ordinary brokerage transactions in which the broker solicits purchasers;</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through underwriters, dealers and agents who may receive compensation in the form of underwriting discounts, concessions or commissions from a seller and/or the purchasers of the shares for whom they may act as agent;</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; font-style: normal; width: 20pt;"></td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through the writing of options on the shares;</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through the granting of a security interest in any common share as collateral for any loan or obligation, including such grants to brokers or dealers who may from time to time effect distributions of the shares or other interests in the shares;</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; font-style: normal; width: 20pt;"></td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through purchases by a broker or dealer as principal and resale by such broker or dealer for its own account pursuant to this prospectus;</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through block trades in which the broker or dealer so engaged will attempt to sell the shares as agent or as riskless principal but may position and resell a portion of the block as principal to facilitate the transaction;</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; font-style: normal; width: 20pt;"></td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">through exchange distributions in accordance with the rules of the applicable exchange or quotation system;</font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; font-style: normal; width: 20pt;"></td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">in any combination of one or more of these methods; or</font></td>
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<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						padding-left: 0pt;width: 18pt;"><font style="opacity:100; position:relative; ">&bull;</font>&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 3pt; padding-bottom: 3pt; text-align: left; font-style: normal; text-align: left;&#10;						width: 418pt;"><font style="opacity:100; position:relative; ">in any other lawful manner.</font></td>
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<font style="opacity:100; position:relative; ">These sales may be made at prices related to the then current market price or otherwise at prices and on terms then prevailing, or in privately negotiated transactions. In effecting sales, a broker or dealer engaged by an individual using this prospectus to sell shares of common stock may arrange for other brokers or dealers to participate in the sale. In addition, any shares covered by this prospectus which qualify for sale pursuant to Section 4(1)&nbsp;of the Securities Act or Rule&nbsp;144 under the Securities Act may be sold thereunder rather than by this prospectus.</font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">I-4</p>
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<font style="opacity:100; position:relative; ">In connection with distributions of the shares or otherwise, persons using this prospectus to sell common stock may enter into hedging transactions with broker-dealers. In connection with hedging a transaction, a broker-dealer may engage in short sales of shares registered hereunder in the course of hedging the positions it assumes with the seller. The seller may also sell shares short and deliver the shares to close out the short positions. The seller may also enter into an option or other transaction with a broker-dealer which requires the delivery to the broker-dealer of shares we have registered, which the broker-dealer may resell by this prospectus.</font>
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<font style="opacity:100; position:relative; ">A seller may pay a broker-dealer or an agent compensation in the form of commissions, discounts or concessions. The broker-dealer and any other participating broker-dealer may be deemed to be &lsquo;&lsquo;underwriters&rsquo;&rsquo; within the meaning of the Securities Act in connection with such sales and any such commission, discount or concession may be deemed to be underwriting discounts or commissions under the Securities Act.</font>
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<font style="opacity:100; position:relative; ">We may be required to file a supplemented prospectus in connection with any activities involving a seller which may be deemed to be an &lsquo;&lsquo;underwriting.&rsquo;&rsquo; In that case, a supplement to this prospectus would contain (1) information as to whether an underwriter selected by a seller, or any other broker-dealer, is acting as principal or agent for the seller, (2) the compensation to be received by an underwriter selected by a seller or any broker-dealer, for acting as principal or agent for a seller and (3) the compensation to be received by any other broker-dealer, in the event the compensation of such other broker-dealers is in excess of usual and customary commissions. Any broker or dealer participating in any distribution of the common stock may be required to deliver a copy of this prospectus, including any prospectus supplement, to any individual who purchases any common stock from or through such a broker-dealer.</font>
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<font style="opacity:100; position:relative; ">We have advised the people identified in this prospectus as potential sellers of shares that during any period when they may be engaged in a distribution of the shares offered by this prospectus, they are required to comply with Regulation M promulgated under the Securities Exchange Act. With certain exceptions, Regulation M precludes any seller, any affiliated purchaser and any broker-dealer or other individual who participates in such a distribution from bidding for or purchasing, or attempting to induce any individual to bid for or purchase any security, that is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of these factors may affect the marketability of our common stock.</font>
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<font style="opacity:100; position:relative; ">The people identified in any prospectus supplement to this prospectus as potential sellers of common stock offer to sell all, some or none of the shares covered by any prospectus supplement to this prospectus. Because it is possible that a significant number of shares could be sold simultaneously by means of this prospectus (as supplemented), such sales, or the possibility thereof, may have an adverse effect on the market price of our common stock.</font>
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<font style="opacity:100; position:relative; ">INDEMNIFICATION</font>
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<font style="opacity:100; position:relative; ">We are a Marshall Islands corporation. Section 60 of the Business Corporations Act of the Republic of the Marshall Islands (the &lsquo;&lsquo;BCA&rsquo;&rsquo;) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best </font>
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interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was unlawful.</font>
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<font style="opacity:100; position:relative; ">A Marshall Islands corporation also has the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.</font>
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<font style="opacity:100; position:relative; ">To the extent that a director or officer of a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in the preceding paragraph, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by him in connection therewith. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized under Section 60 of the BCA.</font>
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<font style="opacity:100; position:relative; ">Section 60 of the BCA also permits a Marshall Islands corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of Section 60 of the BCA.</font>
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<font style="opacity:100; position:relative; ">The indemnification and advancement of expenses provided by, or granted pursuant to, Section 60 of the BCA are not exclusive of any other rights to which those seeking indemnification and advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person&rsquo;s official capacity and as to action in another capacity while holding such office. In this regard, our Bylaws provide that such expenses (including attorneys&rsquo; fees) incurred by former directors and officers may be so paid upon such terms and conditions, if any, as the company deems appropriate, and the board of directors may authorize the company&rsquo;s legal counsel to represent a present or former director or officer in any action, suit or proceeding, whether or not the company is a party to such action, suit or proceeding. Our Bylaws further provide for indemnification of directors and officers on the basis described above as being permitted by Section 60 of the BCA and provide, to the extent authorized from time to time by the board of directors of the company, rights to indemnification and to the advancement of expenses to employees and agents of the corporation similar to those conferred to directors and officers of our company.</font>
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<font style="opacity:100; position:relative; ">Our Articles of Incorporation provide that no director shall have personal liability to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, but the liability of a director is not limited or eliminated (i) for any breach of the director&rsquo;s duty of loyalty to our company or its stockholders; (ii) for acts or omissions not undertaken in good faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which the director derived an improper benefit.</font>
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<font style="opacity:100; position:relative; ">VALIDITY OF COMMON STOCK</font>
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<font style="opacity:100; position:relative; ">The validity of our common stock has been passed upon by Watson, Farley &amp; Williams (New&nbsp;York) LLP.</font>
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<font style="opacity:100; position:relative; ">EXPERTS</font>
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<font style="opacity:100; position:relative; ">The consolidated financial statements of StealthGas Inc. incorporated in this prospectus by reference to our Annual Report of StealthGas Inc. on Form 20-F for the year ended December&nbsp;31,&nbsp;2006 have been audited by Deloitte Hadjipavlou, Sofianos &amp; Cambanis S.A., an independent registered public accounting firm, as indicated in their report with respect thereto, and are included herein in reliance upon the authority of this firm as experts in accounting and auditing.</font>
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<font style="opacity:100; position:relative; ">PART II</font>
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<font style="opacity:100; position:relative; ">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font>
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<font style="opacity:100; position:relative; ">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Incorporation of Documents by Reference</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">The following documents, previously filed by the Registrant with the Securities and Exchange Commission (the &lsquo;&lsquo;SEC&rsquo;&rsquo;), are incorporated by reference into this Registration Statement:</font>
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<font style="opacity:100; position:relative; ">(a)&nbsp;&nbsp;&nbsp;&nbsp;Annual Report on Form 20-F for the fiscal year ended December&nbsp;31,&nbsp;2006, filed with the SEC on June&nbsp;5,&nbsp;2007;</font>
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<font style="opacity:100; position:relative; ">(b)&nbsp;&nbsp;&nbsp;&nbsp;Current Report on Form 6-K filed with the SEC on June 29, 2007; and</font>
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<font style="opacity:100; position:relative; ">(c)&nbsp;&nbsp;&nbsp;&nbsp;The description of the Registrant&rsquo;s capital stock contained in the Registration Statement on Form 8-A (File No. 000-51559), filed on October&nbsp;4,&nbsp;2005, describing the Registrant&rsquo;s common stock, including any amendments or reports filed for the purpose of updating any such description.</font>
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<font style="opacity:100; position:relative; ">All reports and other documents subsequently filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of the Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.</font>
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<font style="opacity:100; position:relative; ">Any statement contained herein or in a document all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font>
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<font style="opacity:100; position:relative; ">Item 4.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Description of Securities</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">Not Applicable.</font>
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<font style="opacity:100; position:relative; ">Item 5.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Interests of Named Experts and Counsel</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">Not Applicable.</font>
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<font style="opacity:100; position:relative; ">Item 6.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Indemnification of Directors and Officers</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">The Registrant is a Marshall Islands corporation. Section 60 of the Business Corporations Act of the Republic of the Marshall Islands (the &lsquo;&lsquo;BCA&rsquo;&rsquo;) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was unlawful.</font>
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<font style="opacity:100; position:relative; ">A Marshall Islands corporation also has the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a </font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">II-1</p>
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<font style="opacity:100; position:relative; ">
director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.</font>
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<font style="opacity:100; position:relative; ">To the extent that a director or officer of a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in the preceding paragraph, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by him in connection therewith. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized under Section 60 of the BCA.</font>
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<font style="opacity:100; position:relative; ">Section 60 of the BCA also permits a Marshall Islands corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of Section 60 of the BCA.</font>
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<font style="opacity:100; position:relative; ">The indemnification and advancement of expenses provided by, or granted pursuant to, Section 60 of the BCA are not exclusive of any other rights to which those seeking indemnification and advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person&rsquo;s official capacity and as to action in another capacity while holding such office. In this regard, the Registrant&rsquo;s Bylaws provide that such expenses (including attorneys&rsquo; fees) incurred by former directors and officers may be so paid upon such terms and conditions, if any, as the Registrant deems appropriate, and the board of directors may authorize the Registrant&rsquo;s legal counsel to represent a present or former director or officer in any action, suit or proceeding, whether or not the Registrant is a party to such action, suit or proceeding. The Registrant&rsquo;s Bylaws further provide for indemnification of directors and officers on the basis described above as being permitted by Section 60 of the BCA and provide, to the extent authorized from time to time by the board of directors of the Registrant, rights to indemnification and to the advancement of expenses to employees and agents of the corporation similar to those conferred to directors and officers of Registrant.</font>
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<font style="opacity:100; position:relative; ">The Registrant&rsquo;s Articles of Incorporation provide that no director shall have personal liability to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, but the liability of a director is not limited or eliminated (i) for any breach of the director&rsquo;s duty of loyalty to the Registrant or its stockholders; (ii) for acts or omissions not undertaken in good faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which the director derived an improper benefit.</font>
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<font style="opacity:100; position:relative; ">Item 7.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Exemption from Registration Claimed</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">Not Applicable.</font>
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<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">II-2</p>
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<font style="opacity:100; position:relative; ">Item 8.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Exhibits</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">The following exhibits are filed as part of this Registration Statement:</font>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Exhibit</font></font></td>
<td style="background-color: #ffffff;border-bottom:  1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Description</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amended and Restated Articles of Incorporation of StealthGas Inc. (incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Registration Statement on Form F-1, Registration No. 333-127905 initially filed with the SEC on August&nbsp;29,&nbsp;2005, the &lsquo;&lsquo;Form F-1&rsquo;&rsquo;).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.2</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amended and Restated Bylaws of StealthGas Inc. (incorporated by reference to Exhibit 3.2 to the Form F-1).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.3</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">StealthGas Inc.&rsquo;s 2005 Equity Compensation Plan, amended and restated.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.4</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Stock Certificate (incorporated by reference to Exhibit 4.1 to the Form&nbsp;F-1).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">5</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Opinion of Watson, Farley &amp; Williams (New York) LLP.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">23</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Consent of Deloitte Hadjipavlou, Sofianos &amp; Cambanis S.A.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">23</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.2</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Consent of Watson, Farley &amp; Williams (included in Exhibit 5.1).*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">24</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Powers of Attorney (included on the signature page of this Registration Statement).</font></font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-bottom: 6pt;   width: pt; "><font style="opacity:100; position:relative; ">Filed herewith.</font></td>
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<font style="opacity:100; position:relative; ">Item 9.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">Undertakings</font><font style="opacity:100; position:relative; ">.</font>
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<font style="opacity:100; position:relative; ">(a)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:</font>
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<font style="opacity:100; position:relative; ">(1)&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font>
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<font style="opacity:100; position:relative; ">(i)&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by Section 10(a)(3) of the Securities Act;</font>
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<font style="opacity:100; position:relative; ">(ii)&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &lsquo;&lsquo;Calculation of Registration Fee&rsquo;&rsquo; table in this Registration Statement;</font>
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<font style="opacity:100; position:relative; ">(iii)&nbsp;&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan of distribution not previously disclosed in the effective Registration Statement or any material change to such information in this Registration Statement;</font>
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<font style="opacity:100; position:relative; text-decoration:underline;">provided</font><font style="opacity:100; position:relative; ">, </font><font style="opacity:100; position:relative; text-decoration:underline;">however</font><font style="opacity:100; position:relative; ">, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</font>
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<font style="opacity:100; position:relative; ">(2)&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><font style="opacity:100; position:relative; font-weight: normal; font-style: italic;">bona fide</font><font style="opacity:100; position:relative; "> offering thereof.</font>
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<font style="opacity:100; position:relative; ">(3)&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font>
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<font style="opacity:100; position:relative; ">(4)&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser: Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. </font><font style="opacity:100; position:relative; text-decoration:underline;">Provided</font><font style="opacity:100; position:relative; ">, </font><font style="opacity:100; position:relative; text-decoration:underline;">however</font><font style="opacity:100; position:relative; ">, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.</font>
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<font style="opacity:100; position:relative; ">(5)&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</font>
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<font style="opacity:100; position:relative; ">(i)&nbsp;&nbsp;&nbsp;&nbsp;Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;</font>
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<font style="opacity:100; position:relative; ">(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;</font>
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<font style="opacity:100; position:relative; ">(iii)&nbsp;&nbsp;&nbsp;&nbsp;The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and</font>
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<font style="opacity:100; position:relative; ">(iv)&nbsp;&nbsp;&nbsp;&nbsp;Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.</font>
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<font style="opacity:100; position:relative; ">(b)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><font style="opacity:100; position:relative; font-weight: normal; font-style: italic;">bona fide</font><font style="opacity:100; position:relative; "> offering thereof.</font>
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<font style="opacity:100; position:relative; ">(c)&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font>
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<font style="opacity:100; position:relative; ">SIGNATURES</font>
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<font style="opacity:100; position:relative; ">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Athens, on June 29, 2007.</font>
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<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: bold; font-style: normal; padding-top: 12pt;" valign="top" align="left"><font style="opacity:100; position:relative; ">STEALTHGAS INC.</font></td>
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<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: normal; font-style: normal; padding-top: 6pt;" valign="top" align="left"><font style="opacity:100; position:relative; ">By:&nbsp;&nbsp;&nbsp;</font><font style="opacity:100; position:relative; text-decoration:underline;">/s/ Harry N. Vafias&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
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<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: normal; font-style: normal; padding-top: 0;" valign="top" align="left"><font style="opacity:100; position:relative; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harry N. Vafias</font>
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<font style="opacity:100; position:relative; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</font></td>
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<font style="opacity:100; position:relative; ">Each person whose signature appears below constitutes and appoints each of Harry N. Vafias and Andrew J. Simmons, acting alone, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and any and all other documents and instruments incidental thereto, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission and any other regulatory authority, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done by virtue hereof.</font>
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<font style="opacity:100; position:relative; ">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following individuals on June 29, 2007, in the capacities indicated.</font>
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<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center"><font style="opacity:100; position:relative; ">Signature</font></td>
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<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center"><font style="opacity:100; position:relative; ">Title</font></td>
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<td valign="bottom" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">/s/ Harry N. Vafias</font></td>
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<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left"><font style="opacity:100; position:relative; ">Director, President and Chief Executive Officer (Principal Executive Officer)</font></td>
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<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">Harry N. Vafias&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
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<td valign="bottom" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">/s/ Andrew J. Simmons</font></td>
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<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left"><font style="opacity:100; position:relative; ">Chief Financial Officer, Secretary and Treasurer (Principal Financial and Accounting Officer)</font></td>
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<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">Andrew J. Simmons&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
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<td valign="bottom" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">/s/ Michael G. Jolliffe</font></td>
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<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left"><font style="opacity:100; position:relative; ">Chairman of the Board of Directors</font></td>
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<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">Michael G. Jolliffe</font></td>
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<td valign="bottom" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">/s/ Markos Drakos</font></td>
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<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left"><font style="opacity:100; position:relative; ">Director</font></td>
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<td valign="bottom" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">/s/ Thanassis J. Martinos</font></td>
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<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left"><font style="opacity:100; position:relative; ">Director</font></td>
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<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; "><font style="opacity:100; position:relative; ">Thanassis J. Martinos</font></td>
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<font style="opacity:100; position:relative; ">AUTHORIZED UNITED STATES REPRESENTATIVE</font>
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<font style="opacity:100; position:relative; ">Pursuant to the requirement of the Securities Act of 1933, the undersigned, the duly undersigned representative in the United States of StealthGas Inc., has signed this registration statement on June&nbsp;29, 2007.</font>
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<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: bold; font-style: normal; padding-top: 12pt;" valign="top" align="left"><font style="opacity:100; position:relative; ">PUGLISI &amp; ASSOCIATES</font></td>
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<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: normal; font-style: normal; padding-top: 6pt;" valign="top" align="left"><font style="opacity:100; position:relative; text-decoration:underline;">/s/ Donald J. Puglisi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
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<font style="opacity:100; position:relative; ">Name: Donald J. Puglisi</font>
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<font style="opacity:100; position:relative; ">Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director</font></td>
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<font style="opacity:100; position:relative; ">INDEX TO EXHIBITS</font>
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<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="left" valign="bottom" colspan="4"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Exhibit</font></font></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 8pt; line-height:10pt; color: #000000; border-bottom: 1px solid #000000;padding-top: 0pt; background-color: #ffffff;	" align="center" valign="bottom" colspan="1"><font style="font-family: serif; font-size: 8pt; line-height:10pt; color: #000000; font-weight: bold; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Description</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amended and Restated Articles of Incorporation of StealthGas Inc. (incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Registration Statement on Form F-1, Registration No. 333-127905 initially filed with the SEC on August&nbsp;29,&nbsp;2005, the &lsquo;&lsquo;Form F-1&rsquo;&rsquo;).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.2</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Amended and Restated Bylaws of StealthGas Inc. (incorporated by reference to Exhibit 3.2 to the Form F-1).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.3</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">StealthGas Inc.&rsquo;s 2005 Equity Compensation Plan, amended and restated.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">4</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.4</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Stock Certificate (incorporated by reference to Exhibit 4.1 to the Form&nbsp;F-1).</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">5</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Opinion of Watson, Farley &amp; Williams (New York) LLP.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">23</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Consent of Deloitte Hadjipavlou, Sofianos &amp; Cambanis S.A.*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">23</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.2</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Consent of Watson, Farley &amp; Williams (included in Exhibit 5.1).*</font></font></td>
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<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal;" align="right" valign="top"><img src="spacer.gif" width="1"></td>
<td align="right" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff;font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">24</font></td>
<td align="left" style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top"><font style="opacity:100; position:relative; ">.1</font></td>
<td style="font-size: 10pt;  line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-top: 0pt; background-color: #ffffff; font-weight: normal; font-style: normal; " valign="top" align="left"><img src="spacer.gif" width="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff; border-right: none"><img src="spacer.gif" width="1" height="1"></td>
<td style="background-color: #ffffff;border-bottom: 1px solid #ffffff"><img src="spacer.gif" width="1" height="1"></td>
<td style="font-size: 10pt; line-height:12pt; color: #000000; border-bottom: 1px solid #ffffff;padding-left: 0pt; text-indent: 0pt; padding-top: 0pt; background-color: #ffffff;	" align="left" valign="top" colspan="1"><font style="font-family: serif; font-size: 10pt; line-height:12pt; color: #000000; font-weight: normal; font-style: normal;background-color: #ffffff;"><font style="opacity:100; position:relative; ">Powers of Attorney (included on the signature page of this Registration Statement).</font></font></td>
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<td align="left" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-bottom: 6pt;   width: pt; "><font style="opacity:100; position:relative; ">Filed herewith.</font></td>
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[{"type": "S-8", "sequence": "1", "filename": "file1.htm", "description": "FORM S-8", "secsgml_size_bytes": 167722}]
{"company-data": {"conformed-name": "StealthGas Inc.", "cik": "0001328919", "assigned-sic": "4412", "irs-number": "000000000", "state-of-incorporation": "1T", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-144240", "film-number": "07951938"}, "business-address": {"street1": "331 KIFISSIAS AVENUE", "street2": "ERITHREA 14561", "city": "ATHENS", "state": "J3", "zip": "00000", "phone": "30 210 625 2849"}, "mail-address": {"street1": "331 KIFISSIAS AVENUE", "street2": "ERITHREA 14561", "city": "ATHENS", "state": "J3", "zip": "00000"}}
As filed with the Securities and Exchange Commission on June 29, 2007
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
under
THE SECURITIES ACT OF 1933
STEALTHGAS INC.
(Exact name of Registrant as Specified in its Charter)
Republic of the Marshall Islands
N/A
(State or Other Jurisdiction of
Incorporation or Organization)
(IRS Employer Identification No.)
331 Kifissias Avenue
Erithrea 14561
Athens, Greece
(011) (30) (210) 625 2849
(Address of Principal Executive Offices)
STEALTHGAS INC. 2005 EQUITY COMPENSATION PLAN
(Full Title of the Plan)
Puglisi & Associates
850 Library Avenue, Suite 204
Newark, Delaware 19711
(302) 738-6680
(Name, Address and Telephone Number of Agent for Service)
Copy to:
Stephen P. Farrell, Esq.
Morgan, Lewis & Bockius LLP
101 Park Avenue
New York, New York 10178
(212) 309-6000
Fax: (212) 309-6001
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Securities to be Registered
Amount to be
Registered
(1)
Proposed
Maximum Offering
Price Per Share
(2)
Proposed
Maximum Aggregate
Offering Price
Amount of
Registration
Fee
(3)
Common Stock, $0.01 par value
1,440,000 shares
$
17.50
$
25,200,000
$
785
(1)
Pursuant to Rule 416(c) under the Securities Act of 1933, to the extent any additional shares of common stock may be issued or issuable as a result of a stock split, stock dividend or other distribution declared at any time by the Board of Directors while this registration statement is in effect, this registration statement is hereby deemed to cover all such additional common stock.
(2)
Calculated pursuant to paragraphs (c) and (h) of Rule 457 (based upon the average of the reported high and low sales prices for the Registrant's Common Stock as reported on the Nasdaq Global Market on June 25, 2007). The foregoing calculation is solely for the purpose of determining the registration fee.
(3)
Calculated pursuant to Section 6(b) of the Securities Act of 1933 as follows: Proposed maximum aggregate offering price multiplied by 0.0000307.
EXPLANATORY NOTE
This registration statement includes a form of prospectus to be used by certain individuals, who may be deemed to be affiliates, and other current or former employees of StealthGas Inc. in connection with the resale of shares of common stock which shares are registered pursuant to this registration statement.
i
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.
Plan Information
.*
Item 2.
Registrant Information and Employee Plan Annual Information
.*
*
Information required by Part I of Form S-8 will be sent or given to participants in the Plan as required by Rule 428(b)(1) under the Securities Act of 1933, as amended (the ''Securities Act''). The information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428(b) under the Securities Act and the Introductory Note to Part I of Form S-8.
I-1
Prospectus
STEALTHGAS INC.
Common Stock
Our principal business is providing international seaborne transportation services to LPG producers and users. This prospectus relates to the resale of shares of our common stock by our officers and directors and others who may be in a control relationship with us and by certain of our employees. The common stock which may be sold will be acquired by these individuals under written compensation contracts or pursuant to awards made, or upon the exercise of options or other equity incentive awards granted to them, under our 2005 Equity Compensation Plan.
We will not receive any of the proceeds from these sales. We will pay all expenses in connection with this offering, other than commissions and discounts of underwriters, brokers, dealers or agents.
Our shares of common stock are listed on the Nasdaq Global Market (Nasdaq: ''GASS''). On June 28, 2007, the closing price of our common stock was $17.39 per share.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is June 29, 2007
I-2
We have not, nor has any individual named in this prospectus, authorized any person to give any information or to make any representation other than those contained in, or incorporated by reference into, this prospectus. This prospectus does not constitute an offer to sell or solicitation of an offer to buy.
We have filed a registration statement on Form S-8 in respect of the common stock offered by this prospectus with the U.S. Securities and Exchange Commission, which we refer to as the SEC, under the Securities Act of 1933, as amended, which we refer to as the Securities Act. This prospectus does not contain all of the information contained in the registration statement. You should read this entire prospectus carefully as well as the registration statement for additional information.
WHERE YOU CAN FIND MORE INFORMATION
We must file annual, quarterly and special reports and other information with the SEC. You may read and copy any documents we file at the SEC's public reference rooms in Washington, D.C. Please call the SEC at 1-800-SEC-0330 for further information on the public reference facility. Our SEC filings are also available to the public from the SEC's web site at http://www.sec.gov.
The SEC allows us to ''incorporate by reference'' information into this prospectus, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is considered to be part of this prospectus. Information in this prospectus may update documents previously filed with the SEC, and later information that we file with the SEC will automatically update this prospectus. We incorporate by reference the documents listed below and any future filings made with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange Act, prior to the termination of the offering:
•
Our Annual Report on Form 20-F for the fiscal year ended December 31, 2006, filed with the SEC on June 5, 2007;
•
Our Current Report on Form 6-K filed with the SEC on June 29, 2007; and
•
Our Form 8-A (File Number 000-51559) filed with the SEC on October 4, 2005, including any amendments or reports filed for the purpose of updating the description of our common stock that is incorporated by reference therein.
You may request a copy of these filings at no cost, by writing or telephoning us at the following address:
StealthGas Inc.
331 Kifissias Avenue
Erithrea 14561
Athens, Greece
Attention: Secretary
+011 30 210 6250 001
Information on our website is not part of this prospectus.
I-3
OUR BUSINESS
Our principal business is providing international seaborne transportation services to LPG producers and users by carrying various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. We serve industrial companies and energy traders as well as national and independent energy companies.
PROCEEDS
We will not receive any of the proceeds from the sale of shares of our common stock by any individuals named in any prospectus supplement hereto.
SELLING STOCKHOLDERS
Our officers and directors as well as certain of our current and former employees may use this prospectus to sell our common stock. These selling stockholders will be named in a supplement to this prospectus, together with the number of shares owned by such individuals and the number of shares that may be sold under this prospectus, as supplemented, by such individuals.
PLAN OF DISTRIBUTION
The shares of common stock covered by this prospectus will be sold, if at all, by the individuals named in a prospectus supplement hereto or by donees, pledgees or others on their behalf, and not by us. The shares may be sold from time to time as follows:
•
on the Nasdaq Global Market, in the over-the-counter market, on an inter-dealer quotation system or on another national securities exchange (any of which may involve crosses and block transactions);
•
to purchasers directly;
•
in ordinary brokerage transactions in which the broker solicits purchasers;
•
through underwriters, dealers and agents who may receive compensation in the form of underwriting discounts, concessions or commissions from a seller and/or the purchasers of the shares for whom they may act as agent;
•
through the writing of options on the shares;
•
through the granting of a security interest in any common share as collateral for any loan or obligation, including such grants to brokers or dealers who may from time to time effect distributions of the shares or other interests in the shares;
•
through purchases by a broker or dealer as principal and resale by such broker or dealer for its own account pursuant to this prospectus;
•
through block trades in which the broker or dealer so engaged will attempt to sell the shares as agent or as riskless principal but may position and resell a portion of the block as principal to facilitate the transaction;
•
through exchange distributions in accordance with the rules of the applicable exchange or quotation system;
•
in any combination of one or more of these methods; or
•
in any other lawful manner.
These sales may be made at prices related to the then current market price or otherwise at prices and on terms then prevailing, or in privately negotiated transactions. In effecting sales, a broker or dealer engaged by an individual using this prospectus to sell shares of common stock may arrange for other brokers or dealers to participate in the sale. In addition, any shares covered by this prospectus which qualify for sale pursuant to Section 4(1) of the Securities Act or Rule 144 under the Securities Act may be sold thereunder rather than by this prospectus.
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In connection with distributions of the shares or otherwise, persons using this prospectus to sell common stock may enter into hedging transactions with broker-dealers. In connection with hedging a transaction, a broker-dealer may engage in short sales of shares registered hereunder in the course of hedging the positions it assumes with the seller. The seller may also sell shares short and deliver the shares to close out the short positions. The seller may also enter into an option or other transaction with a broker-dealer which requires the delivery to the broker-dealer of shares we have registered, which the broker-dealer may resell by this prospectus.
A seller may pay a broker-dealer or an agent compensation in the form of commissions, discounts or concessions. The broker-dealer and any other participating broker-dealer may be deemed to be ''underwriters'' within the meaning of the Securities Act in connection with such sales and any such commission, discount or concession may be deemed to be underwriting discounts or commissions under the Securities Act.
We may be required to file a supplemented prospectus in connection with any activities involving a seller which may be deemed to be an ''underwriting.'' In that case, a supplement to this prospectus would contain (1) information as to whether an underwriter selected by a seller, or any other broker-dealer, is acting as principal or agent for the seller, (2) the compensation to be received by an underwriter selected by a seller or any broker-dealer, for acting as principal or agent for a seller and (3) the compensation to be received by any other broker-dealer, in the event the compensation of such other broker-dealers is in excess of usual and customary commissions. Any broker or dealer participating in any distribution of the common stock may be required to deliver a copy of this prospectus, including any prospectus supplement, to any individual who purchases any common stock from or through such a broker-dealer.
We have advised the people identified in this prospectus as potential sellers of shares that during any period when they may be engaged in a distribution of the shares offered by this prospectus, they are required to comply with Regulation M promulgated under the Securities Exchange Act. With certain exceptions, Regulation M precludes any seller, any affiliated purchaser and any broker-dealer or other individual who participates in such a distribution from bidding for or purchasing, or attempting to induce any individual to bid for or purchase any security, that is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of these factors may affect the marketability of our common stock.
The people identified in any prospectus supplement to this prospectus as potential sellers of common stock offer to sell all, some or none of the shares covered by any prospectus supplement to this prospectus. Because it is possible that a significant number of shares could be sold simultaneously by means of this prospectus (as supplemented), such sales, or the possibility thereof, may have an adverse effect on the market price of our common stock.
INDEMNIFICATION
We are a Marshall Islands corporation. Section 60 of the Business Corporations Act of the Republic of the Marshall Islands (the ''BCA'') provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best
I-5
interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was unlawful.
A Marshall Islands corporation also has the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
To the extent that a director or officer of a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in the preceding paragraph, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by him in connection therewith. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized under Section 60 of the BCA.
Section 60 of the BCA also permits a Marshall Islands corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of Section 60 of the BCA.
The indemnification and advancement of expenses provided by, or granted pursuant to, Section 60 of the BCA are not exclusive of any other rights to which those seeking indemnification and advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official capacity and as to action in another capacity while holding such office. In this regard, our Bylaws provide that such expenses (including attorneys' fees) incurred by former directors and officers may be so paid upon such terms and conditions, if any, as the company deems appropriate, and the board of directors may authorize the company's legal counsel to represent a present or former director or officer in any action, suit or proceeding, whether or not the company is a party to such action, suit or proceeding. Our Bylaws further provide for indemnification of directors and officers on the basis described above as being permitted by Section 60 of the BCA and provide, to the extent authorized from time to time by the board of directors of the company, rights to indemnification and to the advancement of expenses to employees and agents of the corporation similar to those conferred to directors and officers of our company.
Our Articles of Incorporation provide that no director shall have personal liability to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, but the liability of a director is not limited or eliminated (i) for any breach of the director's duty of loyalty to our company or its stockholders; (ii) for acts or omissions not undertaken in good faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which the director derived an improper benefit.
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VALIDITY OF COMMON STOCK
The validity of our common stock has been passed upon by Watson, Farley & Williams (New York) LLP.
EXPERTS
The consolidated financial statements of StealthGas Inc. incorporated in this prospectus by reference to our Annual Report of StealthGas Inc. on Form 20-F for the year ended December 31, 2006 have been audited by Deloitte Hadjipavlou, Sofianos & Cambanis S.A., an independent registered public accounting firm, as indicated in their report with respect thereto, and are included herein in reliance upon the authority of this firm as experts in accounting and auditing.
I-7
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
.
The following documents, previously filed by the Registrant with the Securities and Exchange Commission (the ''SEC''), are incorporated by reference into this Registration Statement:
(a)    Annual Report on Form 20-F for the fiscal year ended December 31, 2006, filed with the SEC on June 5, 2007;
(b)    Current Report on Form 6-K filed with the SEC on June 29, 2007; and
(c)    The description of the Registrant's capital stock contained in the Registration Statement on Form 8-A (File No. 000-51559), filed on October 4, 2005, describing the Registrant's common stock, including any amendments or reports filed for the purpose of updating any such description.
All reports and other documents subsequently filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of the Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities
.
Not Applicable.
Item 5.
Interests of Named Experts and Counsel
.
Not Applicable.
Item 6.
Indemnification of Directors and Officers
.
The Registrant is a Marshall Islands corporation. Section 60 of the Business Corporations Act of the Republic of the Marshall Islands (the ''BCA'') provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was unlawful.
A Marshall Islands corporation also has the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a
II-1
director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
To the extent that a director or officer of a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in the preceding paragraph, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by him in connection therewith. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized under Section 60 of the BCA.
Section 60 of the BCA also permits a Marshall Islands corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of Section 60 of the BCA.
The indemnification and advancement of expenses provided by, or granted pursuant to, Section 60 of the BCA are not exclusive of any other rights to which those seeking indemnification and advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official capacity and as to action in another capacity while holding such office. In this regard, the Registrant's Bylaws provide that such expenses (including attorneys' fees) incurred by former directors and officers may be so paid upon such terms and conditions, if any, as the Registrant deems appropriate, and the board of directors may authorize the Registrant's legal counsel to represent a present or former director or officer in any action, suit or proceeding, whether or not the Registrant is a party to such action, suit or proceeding. The Registrant's Bylaws further provide for indemnification of directors and officers on the basis described above as being permitted by Section 60 of the BCA and provide, to the extent authorized from time to time by the board of directors of the Registrant, rights to indemnification and to the advancement of expenses to employees and agents of the corporation similar to those conferred to directors and officers of Registrant.
The Registrant's Articles of Incorporation provide that no director shall have personal liability to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, but the liability of a director is not limited or eliminated (i) for any breach of the director's duty of loyalty to the Registrant or its stockholders; (ii) for acts or omissions not undertaken in good faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which the director derived an improper benefit.
Item 7.
Exemption from Registration Claimed
.
Not Applicable.
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Item 8.
Exhibits
.
The following exhibits are filed as part of this Registration Statement:
Exhibit
Description
4
.1
Amended and Restated Articles of Incorporation of StealthGas Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Registration Statement on Form F-1, Registration No. 333-127905 initially filed with the SEC on August 29, 2005, the ''Form F-1'').
4
.2
Amended and Restated Bylaws of StealthGas Inc. (incorporated by reference to Exhibit 3.2 to the Form F-1).
4
.3
StealthGas Inc.'s 2005 Equity Compensation Plan, amended and restated.*
4
.4
Stock Certificate (incorporated by reference to Exhibit 4.1 to the Form F-1).
5
.1
Opinion of Watson, Farley & Williams (New York) LLP.*
23
.1
Consent of Deloitte Hadjipavlou, Sofianos & Cambanis S.A.*
23
.2
Consent of Watson, Farley & Williams (included in Exhibit 5.1).*
24
.1
Powers of Attorney (included on the signature page of this Registration Statement).
*
Filed herewith.
Item 9.
Undertakings
.
(a)    The undersigned Registrant hereby undertakes:
(1)    To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)    To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)    To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the ''Calculation of Registration Fee'' table in this Registration Statement;
(iii)    To include any material information with respect to the plan of distribution not previously disclosed in the effective Registration Statement or any material change to such information in this Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)    That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
II-3
(3)    To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4)    That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser: Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness.
Provided
,
however
, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.
(5)    That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)    Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;
(ii)    Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;
(iii)    The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and
(iv)    Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.
(b)    The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)    Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Athens, on June 29, 2007.
STEALTHGAS INC.
By:
/s/ Harry N. Vafias
Harry N. Vafias
President and Chief Executive Officer
Each person whose signature appears below constitutes and appoints each of Harry N. Vafias and Andrew J. Simmons, acting alone, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and any and all other documents and instruments incidental thereto, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission and any other regulatory authority, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following individuals on June 29, 2007, in the capacities indicated.
Signature
Title
/s/ Harry N. Vafias
Director, President and Chief Executive Officer (Principal Executive Officer)
Harry N. Vafias
/s/ Andrew J. Simmons
Chief Financial Officer, Secretary and Treasurer (Principal Financial and Accounting Officer)
Andrew J. Simmons
/s/ Michael G. Jolliffe
Chairman of the Board of Directors
Michael G. Jolliffe
/s/ Markos Drakos
Director
Markos Drakos
/s/ Thanassis J. Martinos
Director
Thanassis J. Martinos
AUTHORIZED UNITED STATES REPRESENTATIVE
Pursuant to the requirement of the Securities Act of 1933, the undersigned, the duly undersigned representative in the United States of StealthGas Inc., has signed this registration statement on June 29, 2007.
PUGLISI & ASSOCIATES
/s/ Donald J. Puglisi
Name: Donald J. Puglisi
Title:    Managing Director
INDEX TO EXHIBITS
Exhibit
Description
4
.1
Amended and Restated Articles of Incorporation of StealthGas Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Registration Statement on Form F-1, Registration No. 333-127905 initially filed with the SEC on August 29, 2005, the ''Form F-1'').
4
.2
Amended and Restated Bylaws of StealthGas Inc. (incorporated by reference to Exhibit 3.2 to the Form F-1).
4
.3
StealthGas Inc.'s 2005 Equity Compensation Plan, amended and restated.*
4
.4
Stock Certificate (incorporated by reference to Exhibit 4.1 to the Form F-1).
5
.1
Opinion of Watson, Farley & Williams (New York) LLP.*
23
.1
Consent of Deloitte Hadjipavlou, Sofianos & Cambanis S.A.*
23
.2
Consent of Watson, Farley & Williams (included in Exhibit 5.1).*
24
.1
Powers of Attorney (included on the signature page of this Registration Statement).
*
Filed herewith.