This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

General Finance Corporation Announces Extension Of Its Rights Offering

General Finance Corporation (“General Finance”) (NASDAQ: GFN) (NASDAQ: GFNCW) (NASDAQ: GFNCU) announced today that it is extending its ongoing subscription rights offering. Accordingly, holders of the subscription rights will now have until 5:00 p.m. Eastern Daylight Time (EDT) on June 25, 2010 to exercise their rights. The rights offering was originally scheduled to expire on June 15, 2010.

Under the terms of the rights offering, General Finance distributed, at no charge to holders of its common stock, rights to purchase units with an aggregate subscription price of $13,380,000. Each unit consists of one share of General Finance common stock and a three-year warrant to purchase 0.5 additional shares of General Finance common stock at an exercise price of $4.00 per share. Please review the prospectus contained within the registration statement for the rights offering for a complete description of all the terms of the rights offering.

During the offering period for the rights offering, any person who received subscription rights from General Finance during the original offering period may exercise those rights that have not already been exercised. Other than the extension of the expiration date of the rights offering, all of the offering terms described in General Finance’s prospectus dated May 10, 2010 remain the same and apply during the extended period of the offering.

In the rights offering, rights holders who fully exercise their rights will be entitled to subscribe, subject to certain limitations and subject to allotment, for additional units that remain unsubscribed as a result of any unexercised rights. General Finance retains the right to limit the exercise of over-subscription privileges if such exercise would cause a change of control, as defined in the agreements governing the indebtedness of its operating subsidiaries Pac-Van, Inc. (“Pac-Van”) or Royal Wolf Trading Australia Pty Limited and subsidiaries (“Royal Wolf”).

General Finance intends to use the proceeds of the rights offering to reduce indebtedness and for general corporate and working capital purposes.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GFN $4.41 1.60%
AAPL $118.31 -0.48%
FB $105.50 -0.23%
GOOG $749.41 0.15%
TSLA $229.92 5.30%


Chart of I:DJI
DOW 17,844.59 +32.40 0.18%
S&P 500 2,090.87 +1.73 0.08%
NASDAQ 5,119.1980 +16.39 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs