General Finance Corporation Announces Exercise of Underwriters’ Overallotment Option of Public Offering of 7.875% Senior No...
16 Novembre 2020 - 6:08PM
General Finance Corporation (NASDAQ:GFN), a leading specialty
rental services company offering portable storage, modular space
and liquid containment solutions (the “Company”), announced that
the underwriters of its recent public offering of 7.875% Senior
Notes due 2025 (the “Notes”) have fully exercised their
overallotment option resulting in the issuance of an additional
$9.0 million in principal amount of the Notes. The option was
granted in connection with the public offering of $60.0 million in
principal amount of the Notes, which closed on October 27, 2020.
The Notes trade on the NASDAQ Global Market under the symbol
“GFNSZ”.
The exercise of the overallotment option brings the expected
total net proceeds of the public offering to $65.8 million, after
deducting underwriting discounts and estimated offering fees and
expenses payable by the Company. The Company intends to use the net
proceeds from the Notes offering to redeem a portion of the $77.4
million principal amount of its 8.125% Senior Notes due July
2021.
D.A. Davidson & Co., B. Riley Securities, Inc. and Janney
Montgomery Scott LLC acted as joint book-running managers for the
Notes offering. William Blair & Company, National Securities
Corporation and Wedbush Securities, Inc. served as co-lead managers
for the offering.
The offering was made pursuant to an effective registration
statement relating to these securities that has been filed with the
Securities and Exchange Commission. The offering was made by means
of a prospectus supplement and a related prospectus, copies of
which may be obtained on the SEC’s website at www.sec.gov or by
contacting:
D.A. Davidson & Co.611 Anton Blvd.Suite 600Costa Mesa, CA
92626(800) 332-5915Email: prospectusrequest@dadco.com
B. Riley Securities, Inc.1300 17th Street NorthSuite
1400Arlington, VA 22209(703) 312-9580 (collect)Email:
prospectuses@brileyfin.com
Janney Montgomery Scott LLCAttention: Syndicate Department1717
Arch StreetPhiladelphia, PA 19103(215) 665-4450 (collect)Email:
prospectus@janney.com
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities.
The Notes 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.
About General Finance Corporation
Headquartered in Pasadena, California, General Finance
Corporation (NASDAQ: GFN, www.generalfinance.com) is a leading
specialty rental services company offering portable storage,
modular space and liquid containment
solutions. Management’s expertise in these sectors
drives disciplined growth strategies, operational guidance,
effective capital allocation and capital markets support for the
Company’s subsidiaries. The
Company’s Asia-Pacific leasing operations
in Australia and New Zealand consist of
wholly-owned Royal Wolf (www.royalwolf.com.au), the leading
provider of portable storage solutions in those regions. The
Company’s North America leasing operations consist of
wholly-owned subsidiaries Pac-Van, Inc.(www.pacvan.com)
and Lone Star Tank Rental Inc. (www.lonestartank.com),
providers of portable storage, office and liquid storage tank
containers, mobile offices and modular buildings. The
Company also owns Southern Frac, LLC (www.southernfrac.com), a
manufacturer of portable liquid storage tank containers and, under
the trade name Southern Fabrication Specialties
(www.southernfabricationspecialties.com), other steel-related
products in North America.
Investor
Contact
Larry ClarkFinancial Profiles,
Inc.lclark@finprofiles.com310-622-8223
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