International Shipholding Corporation yesterday announced that it plans to offer shares of its Series A Cumulative Redeemable Perpetual Preferred Stock in an underwritten registered public offering.
ISH intends to use the net proceeds from the offering for general corporate purposes, including working capital and potential deployments of currently inactive vessels. Following the offering, ISH intends to file an application to list the Series A Preferred Shares on the New York Stock Exchange.
Incapital LLC and DNB Markets, Inc. will act as joint book-running managers in connection with the offering.
[mappress]
IntShip, February 12, 2013