Seaspan Corporation (NYSE:SSW) announced the closing of a public offering of 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares. The sale of a total of 4,600,000 shares (inclusive of the underwriters' full exercise of the overallotment option) generated gross proceeds of $115 million. Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions, funding capital expenditures on existing newbuild vessels and debt repayments.

Janney Montgomery Scott LLC served as a co-manager on this transaction.

Seaspan announced the closing of a public offering of Class A Common Shares. The sale of a total of 5,750,000 shares (inclusive of the underwriters' full exercise of the overallotment option) at $14.70 per share, as well as the concurrent private sale of 1,020,408 Common Shares to Seaspan's CEO and affiliates of one of Seaspan's directors and of Dennis Washington, generated gross proceeds of $100 million. Seaspan intends to use the net proceeds of the offering to redeem its outstanding 9.50% Series C Cumulative Redeemable Perpetual Preferred Shares, and will use the remainder for general corporate purposes.

Janney Montgomery Scott LLC served as a co-manager on this transaction.

Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Seaspan's managed fleet consists of 118 containerships representing a total capacity of over 935,000 TEU, including 15 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017. Seaspan's current operating fleet of 88 vessels has an average age of approximately six years and average remaining lease period of approximately five years, on a TEU weighted basis.