International Shipholding Corporation (NYSE: ISH) today announced that it plans to offer shares of its Series B Cumulative Redeemable Perpetual Preferred Stock (the "Series B Preferred Shares") in an underwritten registered public offering.
ISH intends to use the net proceeds from the offering for working capital and other general corporate purposes, including using a substantial portion of the funds to repay certain indebtedness and to finance certain vessel investment costs. Upon completion of the offering, ISH intends to file an application to list the Series B Preferred Shares on the New York Stock Exchange.
Incapital LLC, DNB Markets, Inc., Sterne, Agee & Leach, Inc., Regions Securities LLC and Euro Pacific Capital Inc. will underwrite the offering.
When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained by contacting Incapital LLC, Attn: DCM Prospectus Department, 200 S. Wacker Drive, Suite 3700, Chicago, Illinois 60606, Telephone (312) 379-3700, Email email@example.com; or DNB Markets, Inc., 200 Park Avenue, 31 st Floor, New York, New York, 10166, Telephone: (212) 551-9856.This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offers of the Series B Preferred Shares described in this press release will be made exclusively by means of the above-described prospectus supplement and accompanying base prospectus, which relate to ISH's effective shelf registration statement. About International Shipholdinq Corporation International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of U.S. and international flag vessels that provide worldwide and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.