Prospectus excerpt:  Global Ship Lease, Inc., a Marshall Islands company (the ÙIssuerˆ, Ùweˆ or Ùusˆ) is offering 1,400,000 Depositary Shares (the ÙDepositary Sharesˆ), each of which represents 1/100th of one share of our 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (the ÙSeries B Preferred Sharesˆ). The Series B Preferred Shares represented by the Depositary Shares will be deposited with Computershare Inc. and Computershare Trust Company, N.A., as applicable, as depositary. As a holder of a Depositary Share, you will be entitled, through the depositary and subject to the terms of the deposit agreement we will enter into with the depositary (the ÙDeposit Agreementˆ), to proportional rights and preferences as if you held 1/100th of one share of our Series B Preferred Shares.

Dividends on the Series B Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 1st day of January, April, July and October of each year, when, as and if declared by our board of directors. The initial dividend on the Series B Preferred Shares offered hereby will be payable on October 1, 2014 in an amount equal to $24.913 per share (equivalent to $0.24913 per Depositary Share). Dividends will be payable out of amounts legally available therefor at a rate equal to 8.75% per annum of the stated liquidation preference.

At any time on or after August 20, 2019 or within 180 days after the occurrence of a fundamental change, the Series B Preferred Shares may be redeemed (and the Depositary Shares can be caused to the redeemed), in whole or in part, out of amounts legally available therefor, at a redemption price of $2,500.00 per share (equivalent to $25.00 per Depositary Share) plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared.

We have applied to have the Depositary Shares listed on the New York Stock Exchange (the ÙNYSEˆ) under the symbol ÙGSLPrB.ˆ If the application is approved, trading in the Depositary Shares on the NYSE is expected to begin within 30 days after the original issue date of the Depositary Shares. The Series B Preferred Shares represented by the Depositary Shares will not be listed and we do not expect that there will be any other trading market for the Series B Preferred Shares except as represented by the Depositary Shares. Currently, there is no public market for the Depositary Shares or the Series B Preferred Shares.