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Published on 3/26/2014 in the Prospect News Preferred Stock Daily.

Preferred Stock Calendar: Seaspan offers $25-par notes

Week of March 24

SEASPAN CORP.: $25-par notes due April 2019; price talk 6.25% to 6.5%; Sterne Agee & Leach (sole bookrunner); BB&T Capital Markets, DNB Markets, Incapital, Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Wunderlich Securities Inc., Maxim Group LLC, National Securities Corp. and Santander (co-managers); proceeds for general corporate purposes, including funding vessel acquisitions and/or the repayment of debt; Hong Kong-based containership company.

On The Horizon

WHEELER REAL ESTATE INVESTMENT TRUST INC.: Up to $17.25 million (including an over-allotment option) of series B cumulative preferred stock units; each unit holds five preferred shares and six five-year warrants good for common stock; holders can convert preferrerds into common shares; company can also force conversion; payable monthly; Maxim Group LLC and Newbridge Securities Corp. (joint); proceeds will be used to invest in acquisition of Contemplated Properties, for future acquisitions and for general working capital purposes; Virginia Beach-based REIT.


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