General Finance Corp. (GEN), the parent company of businesses in the mobile storage, modular space and liquid containment industries, announced that it commenced an underwritten public offering of an original issuance of Series C Cumulative Redeemable Perpetual Preferred Stock.
The company said it plans to use the net proceeds of this offering to pay down senior indebtedness and for general corporate purposes, which would include the acquisition of businesses and lease fleet and the redemption of Series A Preferred Stock.
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