Seaspan greenshoe exercised, ups preferred sale to $77.6 million

By Tali David

Minneapolis, Dec. 14 - Underwriters for Seaspan Corp.'s series D cumulative redeemable perpetual preferred stock exercised their over-allotment option in full to purchase an additional $10,125,000, or 405,000, shares, according to a press release.

The company priced $67.5 million, or 2.7 million shares, of the $25-par preferreds on Dec. 6. Seaspan has now sold a total of 3,105,000 shares for total gross proceeds of roughly $77.6 million.

As previously reported, Jefferies & Co., Incapital LLC and Credit Suisse Securities (USA) LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include vessel acquisitions or investments.

Seaspan is a Hong Kong-based containership company.

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