SCHEDULE 13G/A 0001649553-25-000012 0001649553 XXXXXXXX LIVE 1 Common Shares, par value $0.001 per share 03/31/2025 0001995574 Icon Energy Corp. Y4001C206 17th KM National Road Athens-Lamia & Foinikos Str. Athens J3 14564 Rule 13d-1(c) CVI Investments, Inc. E9 0 0 0 0 0 N 0 CO With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein. Heights Capital Management, Inc. DE 0 0 0 0 0 0 CO With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein. Icon Energy Corp. c/o Pavimar Shipping Co., 17th km National Road, Athens-Lamia & Foinikos Str., 14564, Nea Kifissia, Athens, Greece This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons," with respect to the common shares of Icon Energy Corp. (the "Company"), par value $0.001 per share (the "Shares"). (i) CVI Investments, Inc. (ii) Heights Capital Management, Inc. The address of the principal business office of CVI Investments, Inc. is: P.O. Box 309GT Ugland House South Church Street George Town Grand Cayman KY1-1104 Cayman Islands The address of the principal business office of Heights Capital Management, Inc. is: 101 California Street, Suite 3250 San Francisco, California 94111 Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. Y The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. 0 The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein. The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein. N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. EXHIBIT INDEX EXHIBIT DESCRIPTION ________ ________ I Limited Power of Attorney* II Joint Filing Agreement* * Previously filed CVI Investments, Inc. /s/ Brian Sopinsky 05/12/2025 Heights Capital Management, Inc. /s/ Brian Sopinsky 05/12/2025 Heights Capital Management, Inc. serves as authorized agent of CVI Investments, Inc. pursuant to a Limited Power of Attorney, a copy of which was previously filed.