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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 8:03 AM

Slide #111. Seaspan Corporation Preferred Stock Offering

Company: Seaspan Corporation (NYSE:SSW)
Date announced: 8/4/2016
Shares Offered: 9,000,000
Date of Pricing: 8/4/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it plans to offer shares of its Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. -updated 8/4- easpan Corporation ("Seaspan") (NYSE:SSW) announced today that it has priced its previously announced $225 million public offering of its 7.875% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") at $25 per share. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $33.75 million of Series H Preferred Shares on the same terms and conditions. The offering is expected to close on August 11, 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. 20, 2017, Co. operates a fleet of 88 vessels and has entered into contracts to purchase an additional 8 containerships. The average age of the 88 vessels in Co.'s operating fleet was approximately 6 years as of Feb. 20, 2017. 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.


Open the SSW Page at Ru Back Packer »

Name: Seaspan Corp
Sector: Shipping
Number of ETFs Holding SSW: 10 (see which ones)
Total Market Value Held by ETFs: $57,919,280
Total Market Capitalization: $783,000,000
% of Market Cap. Held by ETFs: 7.40%

Open the SSW Page at Ru Back Packer (in a new window) »

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