Seaspan to offer common shares

New York-listed containership charterer Seaspan Corp. today said it plans to offer about 7 million common shares for general corporate purposes, debt repayment, capital expenditures, working capital and more vessel acquisitions.

The Hong Kong-based company expects to grant the underwriters an option to purchase up to 1.05 million additional common shares to cover any overallotments. Certain members of Seaspan's management team, directors and others will purchase an aggregate of $18.075 million worth of common shares at the public offering price.

Merrill Lynch & Co., Citi and Goldman, Sachs & Co. will act as joint book-running managers of the public offering. Dahlman Rose & Co. will act as manager. 

Source: American Shipper