Global Ship Lease announced that in connection with the Company’s previously announced registered underwritten public offering of its 8.00% Senior Unsecured Notes due 2024, the Company issued an additional $4.125 million aggregate principal amount of Notes on November 27, 2019, pursuant to the underwriters’ full exercise of their option to purchase additional Notes.
Aggregate net proceeds to the Company from the Notes Offering, including the full exercise of the Underwriters’ Option, were approximately $29.7 million, after the payment of underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds of the Notes Offering to repay a portion of the Company’s 9.875% First Priority Secured Notes due 2022. Following the closing of the Notes Offering and the Underwriters’ Option, the Company has $31.625 million aggregate principal amount of the Notes outstanding.
The Notes are listed on the New York Stock Exchange under the symbol “GSLD.”
B. Riley FBR, Inc., Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC and William Blair & Company, L.L.C. acted as joint book-running managers for the Notes Offering. Incapital LLC, Boenning & Scattergood, Inc., National Securities Corp., a wholly owned subsidiary of National Holdings Corporation (Nasdaq: NHLD), Wedbush Securities Inc., Clarksons Platou Securities AS and Fearnley Securities acted as co-managers for the Notes Offering.