On April 13, 2021, Textainer Group Holdings Limited (the Company) completed
its public offering (the Offering) of 6,000,000 depositary shares (the Depositary Shares), each representing a 1/1,000th interest in a share of its 7.00% Series A Cumulative Redeemable Perpetual Preference Shares, par
value $0.01 per share and $25,000 liquidation preference per share (equivalent to $25.00 per Depositary Share) (the Preference Shares and, together with the Depositary Shares, the Shares), for an
aggregate public offering price of $150,000,000. The net proceeds from the Offering were approximately $144,875,000, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company
intends to list the Depositary Shares on the New York Stock Exchange under the symbol TGH PRA.
The Shares were sold pursuant
to an underwriting agreement (the Underwriting Agreement) with RBC Capital Markets, LLC, UBS Securities LLC, Keefe, Bruyette & Woods, A Stifel Company and B. Riley Securities, Inc. as joint book-running managers
(collectively, the Underwriters). The Underwriting Agreement contains customary representations and warranties, agreements and obligations, conditions to closing and termination provisions. The Underwriting Agreement provides for
indemnification by the Underwriters of the Company, its directors and certain of its executive officers, and by the Company of the Underwriters, for certain liabilities, including liabilities arising under the Securities Act of 1933, as amended, and
affords certain rights of contribution with respect thereto. The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to the Underwriting Agreement, which is attached as Exhibit 1.1 hereto and
incorporated by reference herein. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties to such
agreement, and may be subject to limitations agreed upon by the contracting parties.
In connection with the Offering, the Company adopted
a Certificate of Designations (the Certificate of Designations) with respect to the Preference Shares. Pursuant to the Certificate of Designations, the Preference Shares rank senior to the Companys common shares and any other
junior shares and will rank pari passu with any class or series of the Companys shares established after the original issue date of the Preference Shares that is expressly made on parity with the Preference Shares as to the payment of
dividends and amounts payable on a liquidation, dissolution or winding-up of our affairs.
The
foregoing description of the Certificate of Designations does not purport to be complete and is qualified in its entirety by reference to the Certificate of Designations, a copy of which is attached hereto as Exhibit 4.1 and is incorporated by
reference herein.
In connection with the issuance of the Depositary Shares, the Company entered into a Deposit Agreement, dated as of
April 13, 2021 (the Deposit Agreement), by and among the Company, Computershare Inc. and Computershare Trust Company, N.A., collectively, and the holders from time to time of the depositary receipts (the Depositary
Receipts) evidencing the Depositary Shares. The Preference Shares were deposited against delivery of the Depositary Receipts pursuant to the Deposit Agreement. The Deposit Agreement is attached hereto as Exhibit 4.2 and the form of Depositary
Receipt is attached hereto as Exhibit 4.3. The foregoing description of the Deposit Agreement is entirely qualified by reference to such exhibit, which is incorporated by reference herein.
On April 7, 2021, the Company issued a press release announcing the pricing of the Offering. A copy of the press release is attached as
Exhibit 99.1 hereto and is hereby incorporated by reference herein. On April 13, 2021, the company issued a press release announcing the completion of the Offering. A copy of the press release is attached as Exhibit 99.2 hereto and is
hereby incorporated by reference herein.
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Exhibits
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1.1
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Underwriting Agreement dated April 6, 2021
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4.1
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Certificate of Designations dated April 13, 2021 (incorporated by reference to Exhibit 3.2 to the Companys Form 8-A, filed with the SEC on April 14, 2021 (file no. 001-33725)).
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4.2
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Deposit Agreement dated April 13, 2021 (incorporated by reference to Exhibit 4.1 to the Companys Form 8-A, filed with the SEC on April 14, 2021 (file no. 001-33725)).
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4.3
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Form of Depositary Receipt (included in Exhibit 4.2)
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5.1
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Opinion of OMelveny & Myers LLP
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5.2
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Opinion of Conyers Dill & Pearman Limited
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23.1
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Consent of OMelveny & Myers LLP (included in Exhibit 5.1)
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23.2
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Consent of Conyers Dill & Pearman Limited (included in Exhibit 5.2)
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99.1
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Press Release dated April 6, 2021
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99.2
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Press Release dated April 13, 2021
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