Secondary Stock Offerings
By The Online Investor Staff, updated Wed., Jun. 1, 1:24 AM
Slide #13. Seaspan Corporation — Secondary Offering
||Seaspan Corporation (NYSE:SSW)
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||Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that, subject to market and other conditions, it plans to offer 5 million of its Class A common shares (the "Common Shares") in an underwritten registered public offering pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. In connection with the proposed public offering, Seaspan intends to grant the underwriters a 30-day option to purchase up to 750,000 additional Common Shares. -updated 5/24- Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it priced its previously announced public offering of 5,000,000 Class A common shares (the "Common Shares") at $14.70 per share. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional 750,000 Common Shares. The offering is expected to close on May 27, 2016.
Seaspan is an independent charter owner and manager of containerships. Co. primarily deploys its vessels on long-term, fixed-rate time charters. As of Feb. 29, 2016, Co. operates a fleet of 85 vessels and has entered into contracts to purchase an additional 9 containerships. The average age of the 85 vessels in Co.'s operating fleet was approximately 8 years as of Feb. 29, 2016. Co. operates in markets that are very competitive and based primarily on supply and demand. Co. competes for charters based upon price, customer relationships, operating and technical expertise, professional reputation and size, age and condition of the vessel.
Preferreds: SSW.PRC, SSW.PRD, SSW.PRE
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