SEACOR HOLDINGS INC. COMPLETES REDEMPTION OF 3% CONVERTIBLE NOTES DUE 2028
September 15 2020 - 4:30PM
SEACOR Holdings Inc. (NYSE:CKH) (“SEACOR” or the “Company”) today
announced that it has completed the redemption of all of the
remaining $34,482,000 aggregate outstanding principal amount of its
3% Convertible Senior Notes due 2028 (the “Notes”). The redemption
price for the Notes was an amount equal to 100% of the principal
amount of the Notes, plus accrued and unpaid interest from the most
recent payment date to the date of redemption.
* * * * *
SEACOR is a diversified holding company with
interests in domestic and international transportation and
logistics, crisis and emergency management, and clean fuel and
power solutions. SEACOR is publicly traded on the New York Stock
Exchange (NYSE) under the symbol CKH.
Cautionary Note Regarding Forward
Looking Statements Certain statements discussed in this
release as well as in other reports, materials and oral statements
that the Company releases from time to time to the public
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Generally, words
such as “anticipate,” “estimate,” “expect,” “project,” “intend,”
“believe,” “plan,” “target,” “forecast” and similar expressions are
intended to identify forward-looking statements. Such
forward-looking statements concern management’s expectations,
strategic objectives, business prospects, anticipated economic
performance and financial condition and other similar matters.
Forward-looking statements are inherently uncertain and subject to
a variety of assumptions, risks and uncertainties that could cause
actual results to differ materially from those anticipated or
expected by management of the Company. These statements are not
guarantees of future performance and actual events or results may
differ significantly from these statements. Actual events or
results are subject to significant known and unknown risks,
uncertainties and other important factors, including risks relating
to the COVID-19 pandemic, volatility the pandemic has caused in the
capital markets and the effects it has had and could continue to
have on the global economy, the potential impact of governmental
responses to the pandemic on the Company's business, operations and
personnel, financial condition, results of operations, cash flows
and liquidity, risks relating to weakening demand for the Company’s
services as a result of unplanned customer suspensions,
cancellations, rate reductions or non-renewals of vessel charters
or failures to finalize commitments to charter vessels, increased
government legislation and regulation of the Company’s businesses
that could increase the cost of operations, increased competition
if the Jones Act is repealed, liability, legal fees and costs in
connection with the provision of emergency response services,
decreased demand for the Company’s services as a result of declines
in the global economy or the COVID-19 pandemic, declines in
valuations in the global financial markets and a lack of liquidity
in the credit sectors, interest rate fluctuations, availability of
credit, inflation rates, changes in laws, trade barriers, commodity
prices and currency exchange fluctuations, activity in foreign
countries and changes in foreign political, military and economic
conditions, changes in foreign and domestic oil and gas exploration
and production activity, safety record requirements related to
Ocean Transportation & Logistics Services, decreased demand for
Ocean Transportation & Logistics Services due to construction
of additional refined petroleum product, natural gas or crude oil
pipelines or due to decreased demand for refined petroleum
products, crude oil or chemical products or a change in existing
methods of delivery, compliance with U.S. and foreign government
laws and regulations, including environmental laws and regulations
and economic sanctions, the dependence of Ocean Transportation
& Logistics Services and Inland Transportation & Logistics
Services on several key customers, consolidation of the Company’s
customer base, the ongoing need to replace aging vessels, industry
fleet capacity, restrictions imposed by the Shipping Acts on the
amount of foreign ownership of the Company’s Common Stock,
operational risks of Ocean Transportation & Logistics Services
and Inland Transportation & Logistics Services, effects of
adverse weather conditions and seasonality, the level of grain
export volume, the effect of fuel prices on barge towing costs,
variability in freight rates for inland river barges, the effect of
international economic and political factors on Inland
Transportation & Logistics Services’ operations, the ability to
realize anticipated benefits from acquisitions and other strategic
transactions, adequacy of insurance coverage, the attraction and
retention of qualified personnel by the Company, changes in U.S.
and international trade policies and various other matters and
factors, many of which are beyond the Company’s control as well as
those discussed in Item 1A. (Risk Factors) of the Company’s Annual
report on Form 10-K and other reports filed by the Company with the
Securities and Exchange Commission (“SEC”). It should be understood
that it is not possible to predict or identify all such factors.
Consequently, the preceding should not be considered to be a
complete discussion of all potential risks or uncertainties. Given
these factors, investors and analysts should not place undue
reliance on forward-looking statements. Forward-looking statements
speak only as of the date of the document in which they are made.
The Company disclaims any obligation or undertaking to provide any
updates or revisions to any forward-looking statement to reflect
any change in the Company’s expectations or any change in events,
conditions or circumstances on which the forward-looking statement
is based, except as required by law. It is advisable, however, to
consult any further disclosures the Company makes on related
subjects in its filings with the SEC, including Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K (if any). These statements constitute the Company’s
cautionary statements under the Private Securities Litigation
Reform Act of 1995.
For additional information, contact SEACOR at (954) 523-2200, e-mail SEACOR at communications@seacorholdings.com or visit SEACOR’s website at www.seacorholdings.com.
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