Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Fri, May 20, 11:47 PM

This Slide: #387 of 581

Slide #387. 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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GSL — Key Stats (updated 13 HRs, 24 MINs ago)

Name:
Global Ship Lease, Inc.
Website:
www.globalshiplease.com
Sector:
Shipping
Number of ETFs Holding GSL:
4 (see which ones)
Total Market Value Held by ETFs:
$8,418,166
Total Market Capitalization:
$385,000,000
% of Market Cap. Held by ETFs:
2.19%