PASADENA, Calif., May 17, 2013 (GLOBE NEWSWIRE) -- General Finance Corporation (Nasdaq:GFN), the parent company of businesses in the mobile storage, modular space and liquid containment industries (the "Company"), announced today that it has completed its public offering of 350,000 shares of its 9.00% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock"), liquidation preference $100.00 per share, for gross proceeds of $35 million, before deducting the underwriting discount and other estimated offering costs. The shares are listed on the NASDAQ Global Select Market under the symbol "GFNCP" and began trading today.
In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 50,000 shares of the Series C Preferred Stock to cover overallotments, if any.
The Company will use the net proceeds from 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.Sterne, Agee & Leach, Inc. and D.A. Davidson & Co. acted as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, acted as the lead manager for the offering. B. Riley & Co., LLC, Maxim Group LLC, and Northland Capital Markets served as co-managers for the offering. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). These securities may not be sold in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made solely by means of a written prospectus forming a part of the registration statement, copies of which may be obtained when available by contacting:
|Sterne, Agee & Leach, Inc.|
|Attn: Prospectus Department|
|277 Park Avenue, 24th Floor|
|New York, NY 10172|
|D.A. Davidson & Co.|
|8 Third Street N.|
|Great Falls, MT 59401|
CONTACT: Investor/Media Contact Larry Clark Financial Profiles, Inc. 310-478-2700 ext. 29
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