Seaspan to offer 4.5 million common shares
New York-listed containership owner and charter firm Seaspan Corp. said Monday it plans to offer 4.5 million common shares.
Seaspan said it would use the proceeds for general corporate purposes, including repayment of indebtedness, capital expenditures, working capital and to make new vessel acquisitions.
Based on its closing price on Monday of $33.40, the company would net about $150 million. The underwriters have been granted an option to purchase up to 675,000 additional common shares to cover any over-allotment.
Last week, Seaspan arranged an additional $920 million agreement with lenders to provide up to 100 percent of pre-delivery financing and 65 percent of post-delivery financing for 14 containerships.
Seaspan now has an active fleet of 29 box ships with another 26 to be delivered over the next three-and-a-half years or so.
Seaspan to offer 4.5 million common shares
