Seaspan 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.
Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions, funding capital expenditures on existing newbuild vessels and debt repayments. Following the offering, Seaspan intends to file an application to list the Series G Preferred Shares on The New York Stock Exchange.
RBC Capital Markets, J.P. Morgan, Stifel and Incapital will act as joint book-running managers for the offering. BB&T Capital Markets, Janney Montgomery Scott, Ladenburg Thalmann, Wunderlich, FBR, and Maxim Group LLC will act as co-managers for the offering.