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Equity without Dilution – Seaspan’s Mantra

Last week, we reported on the launching of Seaspan Corporation’s preferred stock issue, which priced last Friday. The company sold 10 million shares of its 9.50% Series C Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share. Net proceeds to the issuer were $241,250,000.

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