The containership lessor sold 3.2 million Series G shares at $25 per share ($80 million) in an offering that closed Friday, and 9 million Series H shares earlier this month at the same price ($225 million total).
Seaspan Corp. has raised $325 million in two separate public share offerings this month, the company said.
The New York Stock Exchange-listed containership lessor sold 3.2 million of its 8.20 percent Series G cumulative redeemable perpetual preferred shares at a price of $25 per share ($80 million total) in an offering that closed Friday, and 9 million 7.875 percent Series H preferred shares earlier this month at the same price ($225 million total).
The underwriters of the Series H offering retain an option, which expires Sept. 2, 2016, to purchase up to an additional 1.35 million of the Series H Preferred Shares.
Seaspan said it would use the proceeds to fund an acquisition of equity interests in or the assets of Greater China Intermodal Investments LLC, a transportation focused investment fund established by a Carlyle Group affiliate. In addition, the company will use the funds for capital expenditures on existing newbuild vessels, debt repayments and other general corporate purposes.
ICBC International Securities Ltd., a wholly owned subsidiary of the Industry and Commercial Bank of China Limited, acted as sole underwriter for the Series G share offering.
In the Series H offering, Merrill Lynch; Pierce, Fenner & Smith Incorporated; Morgan Stanley; J.P. Morgan; RBC Capital Markets; and Citigroup Global Markets Inc. acted as joint book-running managers, while Janney Montgomery Scott, BB&T Capital Markets, Ladenburg Thalmann, Wunderlich, FBR and Incapital acted as co-managers.
Seaspan raises $325m in public share offerings
