ATHENS, Greece, Dec. 2, 2019 /PRNewswire/ -- Danaos
Corporation ("Danaos") (NYSE: DAC) announced today that the
underwriters of its previously announced public offering of common
stock, which closed on November 26,
2019, have partially exercised their option to purchase an
additional 418,080 shares, resulting in additional gross proceeds
to Danaos of $2.5 million. After
giving effect to the issuance of these additional shares, which
closed today, Danaos has sold a total of 9,418,080 shares in the
public offering for aggregate gross proceeds of $56.5 million.
Danaos plans to use the net proceeds of the offering for capital
expenditures, including vessel acquisitions, and for other general
corporate purposes.
Citigroup and Jefferies acted as joint book-running managers of
the offering, which was made pursuant to an effective shelf
registration statement on Form F-3 filed with the Securities and
Exchange Commission (the "SEC").
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. A prospectus
supplement and accompanying base prospectus relating to the
offering has been filed with the SEC and is available at the SEC's
website at http://www.sec.gov. Copies of such documents may be
obtained from Citigroup, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, telephone: 1-800-831-9146; or from Jefferies,
Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor,
New York, NY 10022 (or by email to
Prospectus_Department@Jefferies.com).
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 jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Danaos Corporation
Danaos Corporation is one of the largest independent owners of
modern, large-size containerships. Our current fleet of 60
containerships aggregating 360,147 TEUs, including five vessels
owned by Gemini Shipholdings Corporation, a joint venture, ranks
Danaos among the largest containership charter owners in the world
based on total TEU capacity. Our fleet is chartered to many of the
world's largest liner companies on fixed-rate charters. Danaos
Corporation's shares trade on the New York Stock Exchange under the
symbol "DAC".
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements within the meaning of the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements reflect
our current views with respect to future events and financial
performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The forward-looking statements in
this release are based upon various assumptions. Although Danaos
Corporation believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, Danaos
Corporation cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections. Important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the
effects of the refinancing transactions; Danaos' ability to achieve
the expected benefits of the refinancing and comply with the terms
of its new credit facilities and other agreements entered into in
connection with the refinancing; the strength of world economies
and currencies, general market conditions, including changes in
charter hire rates and vessel values, charter counterparty
performance, changes in demand that may affect attitudes of time
charterers to scheduled and unscheduled dry-docking, changes in
Danaos Corporation's operating expenses, including bunker prices,
dry-docking and insurance costs, ability to obtain financing and
comply with covenants in our financing arrangements, actions taken
by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and
political events or acts by terrorists.
Risks and uncertainties are further described in reports filed
by Danaos Corporation with the U.S. Securities and Exchange
Commission.
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SOURCE Danaos Corporation