International Shipholding Corporation Files Universal Shelf Registration To Replace Expiring S-3 Registration Statement
International Shipholding Corporation (NYSE:ISH) today announced that it
has filed a universal shelf registration statement on Form S-3 with the
United States Securities and Exchange Commission ("SEC").
International Shipholding Corporation (NYSE:ISH) today announced that it has filed a universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission ("SEC"). This new shelf registration statement will become effective upon the SEC’s approval replacing the similar registration statement filed in 2010 that is scheduled to expire on October 27, 2013. As with the expiring registration statement, this new shelf registration statement is intended to provide International Shipholding Corporation with flexibility to access public capital markets in order to, among other things, respond to accretive business opportunities. At the present time, International Shipholding Corporation has no specific plans to issue securities under the registration statement. If and when this new shelf registration statement is declared effective by the SEC, International Shipholding Corporation will be able to offer and sell from time to time up to $200 million of common and preferred stock, depositary shares representing fractional interests in its preferred stock, debt securities, warrants, or units consisting of two or more of the aforementioned securities in any combination thereof. Prior to the time this new shelf registration statement becomes effective, International Shipholding Corporation will be permitted to continue to issue securities under its current registration statement for up to 180 days. The terms of any securities offered under this new shelf registration statement, and the intended use of the net proceeds resulting therefrom, will be established at the times of any future offerings and will be described in prospectus supplements filed at such times with the SEC. This press release is not an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.