Global Ship Lease falls on $70 mln equity raise

Global Ship Lease

22/01/2021 15:01

** Global Ship Lease  GSL.N  shares down 11.1% at $13.25
after co prices follow-on
    ** GSL sells 5.4 mln shares at $13, raises $70.2 mln to fund
expansion of its containership fleet  urn:newsml:reuters.com:*:nGNX92rRSP
    ** Offering price represents 12.8% discount to stock's Thurs
close
    ** Jefferies and B. Riley Secs jt bookrunners
    ** Offering size represents about half GSL's free float of
~10.6 mln shares, per Refinitiv data
    ** With move on Fri, stock up ~11% YTD. Shares have
rebounded sharply from Mar pandemic low of $2.61

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))