Performance extends offer to swap stock for convertible preferreds

By Marisa Wong

Los Angeles, Jan. 13 – Performance Shipping Inc. extended its offer to exchange up to 4,066,181 of its outstanding common shares for newly issued shares of its $25-par series B convertible cumulative perpetual preferred stock, according to a news release.

The exchange offer will now expire at 5 p.m. ET on Jan. 27, extended from 5 p.m. ET on Jan. 21.

The company is offering 0.28 series B preferred shares for each common share.

Computershare Trust Co., NA is the depositary for the exchange offer. Georgeson LLC is the information agent.

Performance Shipping is a shipping services company based in Athens.

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