The Company intends to use a portion of the net proceeds from the Offering to repurchase all outstanding Series A Preferred Shares at a discount to their liquidation value and to pay related expenses. Any remaining net proceeds will be used for general corporate purposes.
Morgan Stanley & Co. LLC is acting as sole book-running manager of the Offering, which will be made under an effective shelf registration statement. Ladenburg Thalmann & Co. Inc. and
Application has been made to list the Depositary Shares on the
The Offering is being made only by means of a prospectus supplement and accompanying base prospectus. The preliminary prospectus supplement and accompanying prospectus has been filed with the
This release does 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains forward-looking statements. Forward-looking statements provide the Company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and the Company cannot assure you that the events or expectations included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors described in "Risk Factors" in the Company's Annual Report on Form 20-F and the factors and risks the Company describes in subsequent reports filed from time to time with the
CONTACT: Investor and Media Contact:
The IGB Group Bryan Degnan646-673-9701 or Leon Berman212-477-8438