Secondary Stock Offerings
By The Online Investor Staff, updated Wed., Aug. 24, 3:38 PM
Slide #4. Seaspan Corporation — Secondary Offering
||Seaspan Corporation (NYSE:SSW)
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||Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it plans to offer shares of its Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. -updated 8/18 - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it has priced its previously announced $80 million public offering of its 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") at $25 per share. The offering is expected to close on August 25, 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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