Reorganization and NYSE Listing
On February 27, 2020, Seaspan completed the Reorganization. The Reorganization was effected pursuant to the Merger Agreement. Under the terms of the Merger
Agreement, at the effective time of the Merger (the Effective Time), Merger Sub merged with and into Seaspan and the separate corporate existence of Merger Sub ceased, with Seaspan continuing its corporate existence as the surviving
corporation in the Merger and a direct, wholly owned subsidiary of Atlas.
At the Effective Time, each outstanding Seaspan common share (as defined below)
and Seaspan preferred share (as defined below) was canceled, and one Atlas common share (as defined below) and one Atlas preferred share (as defined below) was issued to holders of such canceled Seaspan common share and Seaspan preferred share, as
applicable.
In connection with the Reorganization, Seaspan notified the New York Stock Exchange (the NYSE) that the Reorganization had been
completed and requested that trading of the following Seaspan shares be suspended prior to the market opening on February 28, 2020: (i) Class A common shares (Seaspan common shares), (ii) 7.95% Cumulative Redeemable Perpetual
Preferred Shares Series D (Seaspan Series D Preferred Shares), (iii) 8.25% Cumulative Redeemable Perpetual Preferred Shares Series E (Seaspan Series E Preferred Shares), (iv) 8.20% Cumulative Redeemable
Perpetual Preferred Shares Series G (Seaspan Series G Preferred Shares), (v) 7.875% Cumulative Redeemable Perpetual Preferred Shares Series H (Seaspan Series H Preferred Shares), and (vi) Fixed-To-Floating Cumulative Redeemable Perpetual Preferred Shares Series I (Seaspan Series I Preferred Shares and together with Seaspan Series D
Preferred Shares, Seaspan Series E Preferred Shares, Seaspan Series G Preferred Shares, and Seaspan Series H Preferred Shares, Seaspan preferred shares). The NYSE is expected to suspend trading of Seaspan common shares and Seaspan
preferred shares after the close of business on February 27, 2020 and prior to the market opening on February 28, 2020. In addition, the NYSE has informed Seaspan that it will file with the Securities and Exchange Commission a notification on Form
25 to remove Seaspan common shares and Seaspan preferred shares that had been listed on the NYSE from listing by Seaspan on the NYSE and from registration under Section 12(b) of the Exchange Act.
On February 28, 2020, the following Atlas shares are expected to commence trading on the NYSE under the symbols ATCO, ATCO-PD, ATCO-PE, ATCO-PG, ATCO-PH, and ATCO-PI, respectively: (i) common shares (Atlas common shares), (ii) 7.95% Cumulative Redeemable Perpetual Preferred Shares Series D (Atlas Series D Preferred Shares),
(iii) 8.25% Cumulative Redeemable Perpetual Preferred Shares Series E (Atlas Series E Preferred Shares), (iv) 8.20% Cumulative Redeemable Perpetual Preferred Shares Series G (Atlas Series G Preferred Shares),
(v) 7.875% Cumulative Redeemable Perpetual Preferred Shares Series H (Atlas Series H Preferred Shares), and (vi) Fixed-To-Floating Cumulative
Redeemable Perpetual Preferred Shares Series I (Atlas Series I Preferred Shares and together with Atlas Series D Preferred Shares, Atlas Series E Preferred Shares, Atlas Series G Preferred Shares, and Atlas Series H Preferred
Shares, Atlas preferred shares).
As previously announced, Seaspan notified the NYSE that it will voluntarily delist its 7.125% Senior Notes
due 2027 (2027 Notes), 5.500% Senior Notes due 2025 and the related guarantees (2025 Notes), and 5.500% Senior Notes due 2026 and the related guarantees (2026 Notes and together with 2027 Notes and 2025 Notes, the
Notes) from trading on the NYSE. Seaspan will file a notification on Form 25 to remove the Notes from listing on the NYSE and from registration under Section 12(b) of the Exchange Act.
Seaspan issued a press release announcing the closing of the Reorganization, a copy of which is attached to this Form 6-K as Exhibit 99.1.
Exhibit Index
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Exhibit
No.
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Description
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3.1
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Articles of Merger, dated February 27, 2020.
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99.1
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Press Release issued by Seaspan Corporation.
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