Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) announced the pricing of the previously announced secondary offering by certain shareholders of the Company (the “Offering”) of shares of Class A common stock, par value $0.01 per share (the “Common Shares”). KEP VI (Newco Marine), Ltd. and KIA VIII (Newco Marine), Ltd., both affiliates of Kelso & Company, a U.S. private equity firm, and Maas Capital Investments B.V. (together, the “Selling Shareholders”) have agreed to sell an aggregate of 4.5 million Common Shares in the Offering at a public offering price of $12.50 per Common Share.

The Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 675,000 Common Shares. The Company will not receive any proceeds from the sale of Common Shares by the Selling Shareholders.

The Company’s Common Shares are listed on the New York Stock Exchange under the symbol “GSL.”

Jefferies LLC, Deutsche Bank Securities, and Morgan Stanley are acting as joint book-running managers in the Offering.

About Global Ship Lease

Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.

Global Ship Lease owns 43 containerships, and has contracted to purchase a further seven ships, ranging from 2,207 to 11,040 TEU, with a total capacity (when fully delivered) of 287,336 TEU. 32 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.

Adjusted to include all charters agreed, and ships acquired or divested, up to March 29, 2021, the average remaining term of the Company’s charters at December 31, 2020, to the mid-point of redelivery, including options under the Company’s control, was 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $967.8 million. Contracted revenue was $1,129.5 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.2 years.

Source: Global Ship Lease