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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Monday, January 18, 7:42 AM

Slide #102. CAI International, Inc. Preferred Stock Offering

Company: CAI International, Inc. (NYSE:CAI)
Date announced: 3/21/2018
Shares Offered: 1,600,000
Date of Pricing: 3/22/2018
Price Per Share: $25.00
Preferred Stock Offering Details: CAI International, Inc. ("CAI" or the "Company") (NYSE:CAI) today announced that it intends to offer and sell shares of its newly created Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") in an underwritten public offering, subject to market and other conditions. In addition, CAI intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock offered in the public offering. -updated 3/22- CAI International, Inc. ("CAI" or the "Company") (NYSE:CAI) today announced the pricing of its underwritten public offering of 1,600,000 shares of its newly created 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share. Dividends on the Series A Preferred Stock will accrue from, and including, the date of original issuance to, but not including, April 15, 2023, at an annual rate of 8.50%, based on the $25.00 liquidation preference per annum. On and after April 15, 2023, dividends on the Series A Preferred Stock will accrue at an annual rate equal to the sum of (a) three-month LIBOR and (b) 5.82% of the $25.00 liquidation preference per share of Series A Preferred Stock. The underwriters have been granted a 30-day option to purchase up to an additional 240,000 shares of Series A Preferred Stock. The offering is expected to close on or about March 29, 2018, subject to customary closing conditions.

CAI International is a transportation finance and logistics company. Co. purchases equipment, intermodal shipping containers and railcars, which it leases to its customers. Co. has two segments: container leasing and logistics. The container leasing segment operates in the intermodal freight container leasing industry and leases containers under three main types of leases: long-term leases, short-term leases, and finance leases. The logistics segment provides services including intermodal, truck brokerage, port drayage, warehousing, international ocean freight and freight forwarding, as well as the arrangement and coordination of international air freight services and customs brokerage.

Preferreds: CAI.PRA, CAI.PRB

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Name:  CAI International Inc
Sector:  Air Services Other
Number of ETFs Holding CAI:  25 (see which ones)
Total Market Value Held by ETFs:  $52,364,628
Total Market Capitalization:  $581,000,000
% of Market Cap. Held by ETFs:  9.01%

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