logo
Share SHARE
FONT-SIZE Plus   Neg

International Shipholding Prices $25 Mln Perferred Stock Offering

International Shipholding Corp. (ISH) said Thursday that it has priced its $25 million public offering of shares of its Series A Cumulative Redeemable Perpetual Preferred Stock at $100 per share.

The company has granted the underwriters a 30-day option to purchase up to an additional $3.75 million of Series A Preferred Shares on the same terms and conditions.

Dividends will be payable on the Series A Preferred Shares at an initial rate of 9.50% per annum of the stated liquidation preference when, as and if declared by the company's board of directors.

The offering is expected to close on February 21.

The company plans to use the net proceeds from the offering for general corporate purposes, including working capital and potential deployments of currently inactive vessels.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. has confirmed that the iPhone 6s battery issue may be larger than thought, as the tech giant said that some customers "outside the affected range of devices" have also reported unexpected shutdowns. The company again stressed that it is not a security issue. Tesla Motors Inc. voluntarily recalled more than 7000 charging adapters. The company said these adapters of Nema 14-30, 10-30 and 6-50 are sold separately as accessories. Earlier in November, two customers had complained about overheating issue of Nema 14-30 charging adapters. Tesla confirmed in its recall communication that there were no other similar incidents or reports of injuries or proper Sony announced Project Field, a new play way to bring card games to life, along with a host of smartphone games at an event in Japan, aiming to accelerate mobile drive. Project Field is a Japan-only card collection platform where actual physical cards will work with a smartphone app. The first title to be announced is based on Yo-kai Watch for mobile. There is no news about an international releas
comments powered by Disqus
Follow RTT