Hong Kong’s Seaspan Corporation is planing to launch a USD 100 million public offering of its 8.2% series G cumulative redeemable perpetual preferred shares.

The company said that it intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions, funding capital expenditures on existing newbuild vessels and debt repayments.

The shares have been priced at USD 25 per share.

Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional USD 15 million of series G preferred shares on the same terms and conditions. The offering is expected to close on June 16, 2016.

Following the offering, Seaspan intends to file an application to list the shares on The New York Stock Exchange.

RBC Capital Markets, J.P. Morgan, Stifel and Incapital are acting as joint book-running managers for the offering. BB&T Capital Markets, Janney Montgomery Scott, Ladenburg Thalmann, Wunderlich, FBR, and Maxim Group LLC, are acting as co-managers for the offering.

Seaspan’s managed fleet consists of 118 containerships representing a total capacity of over 935,000 TEU, including 14 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017. The company’s current operating fleet of 89 vessels has an average age of approximately six years and average remaining lease period of six years, on a TEU weighted basis.