PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 19, 5:34 PM
| This Slide: #519 of 620 |
Slide #519. General Finance Corporation — Preferred Stock Offering
Company:
General Finance Corporation (GFN)
Date announced:
5/6/2013
Shares Offered:
350,000
Date of Pricing:
5/10/2013
Preferred Stock Offering Details:
General Finance Corporation (Nasdaq:GFN), the parent company of businesses in the mobile storage, modular space and liquid containment industries (the "Company"), announced today that it commenced an underwritten public offering of an original issuance of Series C Cumulative Redeemable Perpetual Preferred Stock. The Company has applied to list the shares on the NASDAQ Global Select Market.--updated 5/10 - General Finance Corporation (Nasdaq:GFN), the parent company of businesses in the mobile storage, modular space and liquid containment industries (the "Company"), announced today that it has priced a public offering of 350,000 shares of its 9.00% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock"), liquidation preference $100.00 per share, for gross proceeds of approximately $35 million, before deducting the underwriting discount and other estimated offering costs. The offering is subject to customary closing conditions and is expected to close on or about May 17, 2013. The Company expects to list the shares on the NASDAQ Global Select Market under the symbol "GFNCP" and the shares to commence trading within 30 days of the original issue date.In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 50,000 shares of the Series C Preferred Stock to cover overallotments, if any.
General Finance is a holding company. Through its subsidiaries, Co. is a rental services company providing portable storage, modular space and liquid containment solutions. Co.'s branch locations across North America and the Asia-Pacific provide a range of portable storage units, including its steel containers, office container, mobile office and modular space products and steel tanks that provide Co.'s customers a way to meet their temporary storage and space needs. Co.'s customers use its storage and space units for a variety of applications, including the temporary storage of materials, supplies, equipment, retail merchandise inventories, documents and liquid storage and for office use.
Preferred: GFNCP
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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