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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thursday, December 1, 12:39 AM

Slide #407. Global Ship Lease, Inc. Preferred Stock Offering

Company: Global Ship Lease, Inc. (NYSE:GSL)
Date announced: 8/13/2014
Security type: 8.75% Series B Cumulative Perpetual Preferred Shares (NYSE:GSL.PRB)
Shares Offered: 1,400,000
Date of Pricing: 8/13/2014
Price Per Share: $25
Preferred Stock Offering Details: Global Ship Lease, Inc. (NYSE:GSL) (the "Company") announced today that the offering of 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/100th of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares"), par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share), priced at $25.00 per Depositary Share. The aggregate liquidation preference is $35.0 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 210,000 Depositary Shares. Dividends will be payable on the Series B Preferred Shares at a rate of 8.75% per annum of the stated liquidation preference. The offering is expected to close on or about August 20, 2014 and is subject to customary closing conditions.

Global Ship Lease is a holding company. Through its subsidiaries, Co. is a containership owner. Co. is engaged in the business of owning and chartering out containerships under fixed rate charters to container liner companies.

Preferred: GSL.PRB

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Name:  Global Ship Lease, Inc.
Sector:  Shipping
Number of ETFs Holding GSL:  4 (see which ones)
Total Market Value Held by ETFs:  $718,002
Total Market Capitalization:  $303,000,000
% of Market Cap. Held by ETFs:  0.24%

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