CAI International change of control pays out preferred stockholders

Chicago, Nov. 22 – CAI International, Inc. has been purchased by Mitsubishi HC Capital, a transaction that closed on Monday, according to an 8-K filed with the Securities and Exchange Commission.

Accordingly, CAI’s outstanding 8.5% series A fixed-to-floating rate cumulative redeemable perpetual preferred stock and its 8.5% series B fixed-to-floating rate cumulative redeemable perpetual preferred stock was converted into the right to receive an amount equal to the liquidation preference of $25.00 per share plus all unpaid dividends to the effective time.

The series A and series B preferred stock ceased to be outstanding.

CAI is now a wholly owned subsidiary of Mitsubishi.

CAI International is a San Francisco-based transportation finance and logistics company.

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