LONDON, Oct. 12,
2023 /CNW/ - Atlas Corp. (the "Company" or "Atlas")
today announced that it will redeem all outstanding shares of its
Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred
Shares, Series I, par value of $0.01
per share (the "Series I Preferred Shares").
All six million outstanding shares of the Series I Preferred
Shares (CUSIP: Y0436Q158) will be redeemed at a price of
$25.00 per share of Series I
Preferred Shares on October 30, 2023
(the "Redemption Date"). The related notice of redemption will be
deemed effective as of October 13,
2023.
Regular dividends on the outstanding shares of the Series I
Preferred Shares of $0.50 per share
will be paid in cash separately on October
30, 2023, to holders of record as of the close of business
on October 27, 2023, in the customary
manner. Accordingly, the redemption price for the Series I
Preferred Shares will not include any accrued and unpaid dividends.
Unless the Company defaults in the payment of the Redemption Price,
on and after the Redemption Date, all shares of Series I Preferred
Shares will no longer be deemed outstanding, and no further
dividends will be declared or payable (and all dividends will cease
to accrue) on the Series I Preferred Shares.
The Series I Preferred Shares are held through The Depository
Trust Company ("DTC") and will be redeemed in accordance with the
procedures of DTC. Payment to DTC for the Series I Preferred Shares
will be made by Equiniti Trust Company, LLC, the Company's
redemption agent (the "Redemption Agent"), in accordance with the
terms set forth in the Redemption Agent Agreement that governs the
redemption of the Series I Preferred Shares. All questions about
the notice of redemption and related materials should be directed
to the Redemption Agent at the following address and phone
number:
Equiniti Trust Company, LLC
Attn: Corporate Actions
6201 15th Avenue
Brooklyn, New York 11219
Tel. (718) 921-8317
This press release does not constitute a notice of redemption
under the statement of designation governing the Series I Preferred
Shares and is qualified in its entirety by reference to the notice
of redemption issued by the Company to the Redemption Agent.
Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "will", "believe",
"intend", "plan", "expect", "estimate", "project", "forecast", and
similar expressions are forward-looking statements. These
forward-looking statements reflect management's current
expectations only as of the date of this release. As a result, you
are cautioned not to rely on any forward-looking statements.
Although these statements are based upon assumptions we believe to
be reasonable based upon available information, they are subject to
risks and uncertainties. These risks and uncertainties include but
are not limited to factors detailed from time to time in our
periodic reports and filings with the Securities and Exchange
Commission, including Atlas Corp.'s Annual Report on Form 20-F for
the year ended December 31, 2022. We
expressly disclaim any obligation to update or revise any of these
forward-looking statements, whether because of future events, new
information, a change in our views or expectations, or otherwise.
We make no prediction or statement about the performance of any of
our securities.
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on disciplined capital deployment to create
sustainable shareholder value. Atlas targets long-term,
risk-adjusted returns across high-quality infrastructure assets in
the maritime sector, energy sector and other infrastructure
verticals. For more information visit atlascorporation.com.
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SOURCE Atlas Corp.