Global Ship Lease Selling USD 40 Mn Worth of Shares

FinanceIllustration; Source: Pixabay under CC0 Creative Commons license

Global Ship Lease is looking to raise USD 40 million as it launched a fully underwritten public offering of its Class A common shares.

The company said that the offering was priced at USD 0.01 per share, adding that it intends to grant the underwriters a 30-day option to purchase up to an additional USD 6 million of shares.

As part of the offering, the company’s executive management has expressed an interest to purchase USD 1.225 million in aggregate of shares at the public offering price.

Global Ship Lease would use the net proceeds of the offering for general corporate purposes, including the acquisition of containerships or prepayment of debt.

B. Riley FBR is acting as the sole book-running manager in the offering, and the company expects that a portion of the equity offering will be sold to an affiliate of B. Riley Financial. Following the consummation of the offering, B. Riley and its affiliates intend to retain the shares with an aggregate purchase amount of no less than USD 15 million.

Global Ship Lease has agreed to grant B. Riley the right to appoint one member to its Board of Directors, subject to certain conditions, including retaining a certain percentage of voting rights of the company.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 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 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >