General Finance Corporation Announces the Completion of Its Rights Offering
30 6월 2010 - 8:30PM
Business Wire
General Finance Corporation (“General Finance”) (NASDAQ:GFN)
(NASDAQ:GFNCW) (NASDAQ:GFNCU) today announced the completion of its
previously announced rights offering which expired at 5:00 p.m.
Eastern Daylight Time on June 25, 2010. General Finance received
approximately $6.3 million in gross proceeds in connection with the
exercise of subscription rights and will be issuing 4,190,647
units. Each unit consists of one share of common stock and a
three-year warrant to purchase 0.5 additional shares of common
stock at an exercise price of $4.00 per share. As a result of the
rights offering, General Finance will therefore issue 4,190,647
shares of common stock and 4,190,647 warrants to acquire an
additional 2,095,323 shares of common stock at an exercise price of
$4.00 per share.
"We are pleased and appreciate the strong support in this
offering from our stockholders, board of directors and management
team," noted General Finance president and chief executive officer
Ronald Valenta.
About General Finance Corporation
General Finance Corporation (www.generalfinance.com), through
its indirect 86.2%-owned subsidiary, Royal Wolf
(www.royalwolf.com.au) and its indirect 100%-owned subsidiary
Pac-Van (www.pacvan.com), sells and leases products in the portable
services industry to a broad cross section of industrial,
commercial, educational and government customers throughout
Australia, New Zealand and the United States. These products
include storage containers and freight containers in the mobile
storage industry; and modular buildings, mobile offices and
portable container buildings in the modular space industry.
Cautionary Statement About Forward-Looking Statements
Statements in this news release that are not historical facts
are forward-looking statements. Such forward-looking statements
include, but are not limited to, prospects of General Finance,
Royal Wolf and Pac-Van. We believe that the expectations
represented by our forward looking statements are reasonable, yet
there can be no assurance that such expectations will prove to be
correct. Furthermore, unless otherwise stated, the forward looking
statements contained in this press release are made as of the date
of the press release, and we do not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise unless required by applicable legislation or
regulation. The forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
Readers are cautioned that these forward-looking statements involve
certain risks and uncertainties, including those contained in
filings with the Securities and Exchange Commission; such as
General Finance’s Annual Report on Form 10-K for the fiscal year
ended June 30, 2009, its Quarterly Reports on Form 10-Q for the
fiscal year ending June 30, 2010 and the final prospectus for the
rights offering filed on May 10, 2010.
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