Seaspan Completes First Tranche of Investment with Fairfax

MoneyIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Hong Kong-based Seaspan Corporation revealed that Fairfax Financial Holdings exercised all the warrants issued to the company on the closing of its first debenture investment of USD 250 million on February 14, 2018.

The company said that the move resulted in the acquisition of some 38.46 million Class A common shares by Fairfax at an exercise price of USD 6.50 per share for proceeds of USD 250 million.

The exercise of these warrants is part of an earlier agreement with Fairfax, revealed on May 31, 2018. Under the terms of the transaction, upon exercise of the warrants issued to Fairfax, in January 2019 Fairfax would acquire 38.46 million Class A common shares at an exercise price of USD 6.50 per share, for a total equity investment of USD 500 million.

In consideration for the early exercise of these two tranches of warrants, which by their terms would not have expired until 2025 and 2026, Seaspan issued additional warrants to Fairfax to acquire 25 million Class A common shares at an exercise price of USD 8.05 per share, to allow Fairfax to call for early redemption of those debentures.

Share this article

Follow World Maritime News

In Depth>


<< Jan 2019 >>
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >

Maritime Reconnaissance & Surveillance Technology

Now in its 4th successful year, Maritime Reconnaissance & Surveillance Technology is the only event that specifically.

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year…

read more >


The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >