LONDON, May 13, 2021 /CNW/ - Atlas Corp. ("Atlas") (NYSE:
ATCO) today announced the final results of its previously announced
offer to exchange (the "Exchange Offer") up to $80,000,000 aggregate principal amount of 7.125%
Notes due 2027 (the "ATCO Notes"), which have been registered under
the Securities Act of 1933, as amended, for any and all outstanding
$80,000,000 aggregate principal
amount of 7.125% Notes due 2027 of its subsidiary, Seaspan
Corporation (the "Seaspan Notes"). The Seaspan Notes were
originally issued in October 2017.
The Exchange Offer expired at 5:00 pm
New York City time on Wednesday, May 12, 2021 and will be settled on
Monday, May 17, 2021 (the "Settlement
Date").
Upon the terms and subject to the conditions specified in
Atlas's Offer to Exchange, dated April 7,
2021 (the "Exchange Offer Prospectus"), filed with the
United States Securities and Exchange Commission (the "SEC"),
holders of the Seaspan Notes validly tendered $52,198,825 principal amount of Seaspan Notes and
Atlas will therefore issue $52,198,825 principal amount of ATCO Notes in
exchange for such validly tendered Seaspan Notes.
The ATCO Notes have been registered under the Securities Act of
1933, as amended, pursuant to the Exchange Offer Prospectus and are
expected to be listed on the Nasdaq Bond Exchange. Holders of
Seaspan Notes that did not exchange their Seaspan Notes for ATCO
Notes will continue to hold unlisted Seaspan Notes.
D.F. King & Co., Inc. served as exchange agent and
information agent for the Exchange Offer. Questions or requests for
assistance related to the Exchange Offer or for copies of the
Exchange Offer Prospectus may be directed to D.F. King & Co.,
Inc. as follows: 48 Wall Street, 22nd Floor, New York, NY 10005, By Facsimile Transmission
(for Eligible Institutions Only): (212) 709-3328 or by email to
atco@dfking.com. You may also contact your broker, dealer,
commercial bank, trust company or other nominee for assistance
concerning the Exchange Offer.
The Exchange Offer Prospectus is available on the SEC's website
at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on deploying capital to create sustainable
shareholder value. Atlas brings together an experienced asset
management team with deep operational and capital allocation
experience. We target long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Our two portfolio
companies, Seaspan Corporation and APR Energy Ltd. are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively.
About Seaspan
Seaspan is a leading independent owner and operator of
containerships. We charter our vessels primarily pursuant to
long-term, fixed-rate time charters to the world's largest
container shipping liners. At March 31,
2021, Seaspan's fleet consists of 127 containerships
representing total capacity of approximately 1,073,200 TEU. We also
have 37 vessels under construction and have agreed to purchase four
second-hand vessels with aggregate TEU of 597,000, increasing total
capacity to 1,670,200 TEU, on a fully delivered basis.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including
forward-looking statements regarding the anticipated Settlement
Date. Statements that are predictive in nature, that depend upon or
refer to future events or conditions, or that include words such as
"expects", "anticipates", "intends", "plans", "believes",
"estimates", "projects", "forecasts", "will", "may", "potential",
"should", and similar expressions are forward-looking statements.
These forward-looking statements reflect management's current
expectations only as of the date of this release. As a result, you
are cautioned not to rely on any forward-looking statements.
Although these statements are based upon assumptions that we
believe to be reasonable based upon available information, they are
subject to risks and uncertainties. These risks and uncertainties
include, but are not limited to: the risk that the Settlement Date
for the Exchange Offer may be delayed or extended, the risk that
the ATCO Notes may not be admitted for listing and trading on the
Nasdaq Bond Exchange, and other factors detailed from time to time
in our periodic reports and filings with the SEC, including Atlas's
Annual Report on Form 20-F for the year ended December 31, 2020 filed with the SEC on
March 19, 2021. We expressly disclaim
any obligation to update or revise any of these forward-looking
statements, whether because of future events, new information, a
change in our views or expectations, or otherwise. We make no
prediction or statement about the performance of any of our
securities.
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SOURCE Atlas Corp.