Republic of the Marshall Islands
|
N/A
|
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐
|
|||
Non-accelerated filer
|
☒ (Do not check if a smaller reporting company)
|
Smaller reporting company
|
☐
|
Title of securities to be registered
|
Amount to be
registered(1) |
Proposed maximum
offering price
per share(5)
|
Proposed maximum
aggregate offering
price
|
Amount of
registration fee
|
||||||
Class A common shares par value $0.01 per share
|
432,988 (2)(3)
|
$18.59
|
$8,049,246
|
$878.17
|
||||||
Class A common shares par value $0.01 per share
|
1,512,686 (4)
|
$18.59
|
$28,120,833
|
$3,067.98
|
||||||
(1)
|
Any additional shares of common stock of Global Ship Lease, Inc. (the "Registrant") to be issued as a result of stock dividends, stock splits or similar transactions shall
be covered by this Registration Statement as provided in Rule 416(a) under the Securities Act of 1933, as amended.
|
|||||||||
(2)
|
May include shares of common stock of the Registrant previously issued as restricted stock awards under the Registrant's 2019 Omnibus Incentive
Plan but which (i) were subsequently forfeited and returned to the Plan and(ii) are available for issuance for future awards under the Plan, in each case in accordance with the terms of the Plan, as of August 20, 2021.
|
|||||||||
(3)
|
Covers Class A common shares to be awarded under the Global Ship Lease, Inc. 2019 Omnibus Incentive Plan set forth in the table, as well as,
pursuant to Rule 416(a) under the Securities Act of 1933, as amended, an indeterminate amount of additional Class A common shares that may be offered and issued to prevent dilution resulting from stock splits, stock dividends or similar
transaction
|
|||||||||
(4)
|
Represents restricted shares of common stock of the Registrant issued to officers and employees of the Registrant or may be acquired by such perons pursuant to restricted
stock units previously granted or the exercise of outstnading stock options, under the the Registrant's 2019 Omnibus Incentive Plan (the "2019 Plan"), 2015 Equity Incentive Plan (the "2015 Plan"), and
the 2008 Equity Incentive Plan (the "2008 Plan," together with the 2019 Plan and the 2015 Plan, the "Plans") to be registered for resale.
|
|||||||||
(5)
|
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(c) under the Securities Act. The proposed maximum offering price per unit
is estimated to be $18.59, based on the average of the high and low prices of the common shares as reported on the New York Stock Exchange on August 19, 2021.
|
Page |
|
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
|
ii
|
PROSPECTUS SUMMARY
|
1
|
RISK FACTORS
|
5
|
USE OF PROCEEDS
|
6
|
SELLING SECURITYHOLDERS
|
7
|
PLAN OF DISTRIBUTION
|
8
|
LEGAL MATTERS
|
10
|
EXPERTS
|
10
|
Vessel Name
|
Capacity in TEUs
|
Lightweight (tons)
|
Year Built
|
Charterer
|
Earliest Charter Expiry Date
|
Latest Charter Expiry Date
|
Daily Charter Rate $
|
CMA CGM Thalassa
|
11,040
|
38,577
|
2008
|
CMA CGM
|
4Q25
|
1Q26
|
47,200
|
UASC Al Khor(1)
|
9,115
|
31,764
|
2015
|
Hapag-Lloyd
|
1Q22
|
2Q22
|
34,000
|
Anthea Y(1)
|
9,115
|
31,890
|
2015
|
COSCO
|
3Q23
|
4Q23
|
38,000
|
Maira XL(1)
|
9,115
|
31,820
|
2015
|
ONE
|
2Q22
|
3Q22
|
31,650
|
MSC Tianjin
|
8,603
|
34,325
|
2005
|
MSC
|
2Q24
|
3Q24
|
19,000 (2)
|
MSC Qingdao
|
8,603
|
34,609
|
2004
|
MSC
|
2Q24
|
3Q24
|
23,000 (2)
|
GSL Ningbo
|
8,603
|
34,340
|
2004
|
MSC
|
1Q23
|
3Q23
|
22,500
|
GSL Eleni
|
7,847
|
29,261
|
2004
|
Maersk
|
3Q24
|
4Q24 (3)
|
16,500 (3)
|
GSL Kalliopi
|
7,847
|
29,105
|
2004
|
Maersk
|
4Q22
|
4Q24 (3)
|
14,500 (3)
|
GSL Grania
|
7,847
|
29,190
|
2004
|
Maersk
|
4Q22
|
4Q24 (3)
|
14,500 (3)
|
Mary(1)
|
6,927
|
23,424
|
2013
|
CMA CGM
|
3Q23
|
4Q23
|
25,910
|
Kristina(1)
|
6,927
|
23,421
|
2013
|
CMA CGM
|
2Q24
|
3Q24
|
25,910
|
Katherine (1)
|
6,927
|
23,403
|
2013
|
CMA CGM
|
1Q24
|
2Q24
|
25,910
|
Alexandra (1)
|
6,927
|
23,348
|
2013
|
CMA CGM
|
1Q24
|
2Q24
|
25,910
|
Alexis (1)
|
6,882
|
23,919
|
2015
|
CMA CGM
|
1Q24
|
2Q24
|
25,910
|
Olivia I (1)
|
6,882
|
23,864
|
2015
|
CMA CGM
|
1Q24
|
2Q24
|
25,910
|
GSL Christen
|
6,840
|
27,954
|
2002
|
Maersk
|
3Q23
|
4Q23
|
35,000 (4)
|
GSL Nicoletta
|
6,840
|
28,070
|
2002
|
MSC(5)
|
3Q24
|
4Q24
|
13,500(5)
|
CMA CGM Berlioz
|
6,621
|
26,776
|
2001
|
CMA CGM
|
4Q25
|
1Q26
|
34,000(6)
|
Agios Dimitrios
|
6,572
|
24,931
|
2011
|
MSC
|
4Q23
|
1Q24
|
20,000
|
GSL Vinia
|
6,080
|
23,737
|
2004
|
Maersk
|
3Q24
|
1Q25
|
13,250
|
GSL Christel Elisabeth
|
6,080
|
23,745
|
2004
|
Maersk
|
2Q24
|
1Q25
|
13,250
|
Tasman
|
5,936
|
25,010
|
2000
|
Maersk
|
1Q22
|
3Q23(7)
|
12,500(7)
|
ZIM Europe
|
5,936
|
25,010
|
2000
|
ZIM
|
1Q24
|
2Q24
|
14,500(8)
|
Ian H
|
5,936
|
25,128
|
2000
|
ZIM
|
2Q24
|
3Q24
|
32,500(8)
|
Dolphin II
|
5,095
|
20,596
|
2007
|
OOCL
|
1Q22
|
2Q22
|
24,500
|
Orca I
|
5,095
|
20,633
|
2006
|
Maersk
|
2Q24
|
3Q25
|
21,000 (9)
|
CMA CGM Alcazar
|
5,089
|
20,087
|
2007
|
CMA CGM
|
3Q26
|
4Q26
|
16,000 (10)
|
GSL Château d’If
|
5,089
|
19,994
|
2007
|
Hapag-Lloyd
|
4Q26
|
1Q27
|
14,500 (10)
|
CMA CGM Jamaica
|
4,298
|
17,272
|
2006
|
CMA CGM
|
3Q22
|
1Q23
|
25,350
|
CMA CGM Sambhar
|
4,045
|
17,429
|
2006
|
CMA CGM
|
3Q22
|
1Q23
|
25,350
|
CMA CGM America
|
4,045
|
17,428
|
2006
|
CMA CGM
|
3Q22
|
1Q23
|
25,350
|
GSL Valerie
|
2,824
|
11,971
|
2005
|
ZIM
|
3Q21
|
1Q22
|
13,250
|
Athena
|
2,762
|
13,538
|
2003
|
MSC(11)
|
2Q24
|
2Q24
|
21,500(11)
|
Maira
|
2,506
|
11,453
|
2000
|
Hapag-Lloyd
|
1Q23
|
2Q23
|
14,450
|
Nikolas
|
2,506
|
11,370
|
2000
|
CMA CGM
|
1Q23
|
1Q23
|
16,000
|
Newyorker
|
2,506
|
11,463
|
2001
|
CMA CGM
|
1Q24
|
2Q24
|
20,700(12)
|
Manet
|
2,272
|
11,727
|
2001
|
Sea-Lead
|
4Q21
|
4Q21
|
12,850
|
Keta
|
2,207
|
11,731
|
2003
|
OOCL
|
4Q24
|
1Q25
|
9,400 (13)
|
Julie
|
2,207
|
11,731
|
2002
|
Sea Consortium
|
1Q23
|
2Q23
|
20,000(14)
|
Kumasi
|
2,207
|
11,791
|
2002
|
CMA CGM
|
3Q21
|
4Q21
|
9,300
|
Marie Delmas
|
2,207
|
11,731
|
2002
|
CMA CGM
|
3Q21
|
4Q21
|
9,300
|
(1) |
Modern design, high reefer capacity, fuel-efficient vessel.
|
(2) |
MSC Tianjin. Chartered at $23,000 per day through dry-docking in 2Q2021; thereafter at $19,000 per day, due to cancellation of scrubber installation. MSC Qingdao has a
scrubber installed and will continue to trade at a rate of $23,000 per day.
|
(3) |
GSL Eleni delivered 2Q2019 and is chartered for five years; GSL Kalliopi (delivered 4Q2019) and GSL Grania (delivered 3Q2019) are chartered for three years plus two
successive periods of one year at the option of the charterer. During the option periods the charter rates for GSL Kalliopi and GSL Grania are $18,900 per day and $17,750 per day respectively.
|
(4) |
GSL Christen. Chartered at $15,000 per day through May 2021, at which time the rate increased to $35,000 per day.
|
(6) |
CMA CGM Berlioz. Chartered at $34,000 per day through December 2021, at which time the rate will increase to $37,750 per day.
|
(7) |
Tasman. 12-month extension at charterer’s option callable in 2Q2022, at an increased rate of $20,000 per day.
|
(8) |
A package agreement with ZIM, for direct charter extensions on two 5,900 TEU ships: Ian H, at a rate of $32,500 per day from May 2021, and ZIM Europe (formerly Dimitris Y),
at a rate of $24,250 per day, from May 2022.
|
(9) |
Orca I. Chartered at $10,000 per day through April 2021, at which time the rate increased to $21,000 per day through to the median expiry of the charter in 2Q2024;
thereafter the charterer has the option to charter the vessel for a further 12-14 months at the same rate.
|
(10) |
CMA CGM Alcazar and GSL Chateau d’If. Both ships have been forward fixed to CMA CGM for five years at $35,500 per day, with the new charters due to commence in 4Q2021.
|
(11) |
Athena. Chartered to MSC at a rate of $9,000 per day through April 2021, at which time the vessel was drydocked. Thereafter chartered to Hapag-Lloyd at $21,500 per day.
|
(12) |
Newyorker. Drydocked in 2Q2021; thereafter chartered to CMA CGM at $20,700 per day.
|
(13) |
Keta. Chartered to OOCL at $9,400 per day through 3Q2021. Thereafter forward fixed to CMA CGM at $25,000 per day.
|
(14) |
Julie. Chartered to Sea Consortium at a rate of $9,250 per day through May 2021; thereafter extended at $20,000 per day.
|
GSL Dorothea
|
6,008
|
24,243
|
2001
|
Maersk
|
2Q24
|
4Q26
|
Note(1)
|
26/04/2021
|
GSL Arcadia
|
6,008
|
24,858
|
2000
|
Maersk
|
2Q24
|
1Q26
|
Note(1)
|
26/04/2021
|
GSL Violetta
|
6,008
|
24,873
|
2000
|
WHL/Maersk
|
4Q24
|
2Q26
|
Note(1)
|
28/04/2021
|
tbr GSL Maria
|
6,008
|
24,414
|
2001
|
ONE/Maersk
|
3Q24
|
2Q27
|
Note(1)
|
28/04/2021
|
GSL Tegea
|
6,008
|
24,308
|
2001
|
Maersk
|
2Q24
|
4Q26
|
Note(1)
|
17/05/2021
|
tbr GSL Melita
|
6,008
|
24,848
|
2001
|
Maersk
|
2Q24
|
4Q26
|
Note(1)
|
25/05/2021
|
GSL MYNY
|
6,008
|
24,873
|
2000
|
Maersk
|
3Q24
|
4Q26
|
Note(1)
|
28/07/2021
|
tbr GSL Tripoli
|
5,470
|
22,259
|
2009
|
Maersk
|
3Q24
|
4Q27
|
Note(2)
|
3/4Q21
|
tbr GSL Kithira
|
5,470
|
22,108
|
2009
|
Maersk
|
3Q24
|
4Q27
|
Note(2)
|
3/4Q21
|
tbr GSL Tinos
|
5,470
|
22,067
|
2010
|
Maersk
|
3Q24
|
4Q27
|
Note(2)
|
3/4Q21
|
tbr GSL Syros
|
5,470
|
22,098
|
2010
|
Maersk
|
3Q24
|
4Q27
|
Note(2)
|
3/4Q21
|
tbr GSL Susan
|
4,363
|
17,309
|
2008
|
CMA CGM
|
3Q22
|
4Q22
|
22,000
|
29/07/2021
|
tbr GSL Rossi
|
3,421
|
16,309
|
2012
|
Gold Star
|
1Q22
|
2Q22
|
20,000
|
29/07/2021
|
tbr GSL Alice
|
3,421
|
16,209
|
2014
|
CMA CGM
|
1Q23
|
2Q23
|
21,500
|
29/07/2021
|
tbr GSL Eleftheria
|
3,405
|
16,209
|
2013
|
Maersk
|
3Q25
|
4Q25
|
12,000(3)
|
29/07/2021
|
tbr GSL Melina
|
3,400
|
16,209
|
2013
|
Maersk
|
2Q23
|
3Q23
|
24,500
|
29/07/2021
|
Matson Molokai
|
2,824
|
12,032
|
2007
|
Matson
|
2Q22
|
2Q22
|
20,250
|
15/07/2021
|
tbr GSL Lalo
|
2,824
|
11,951
|
2006
|
ONE
|
1Q23
|
2Q23
|
18,500
|
29/07/2021
|
tbr GSL Mercer
|
2,824
|
11,970
|
2007
|
Hapag
|
3Q21
|
4Q21
|
11,700
|
29/07/2021
|
tbr GSL Elizabeth
|
2,742
|
11,507
|
2006
|
ONE
|
4Q22
|
1Q23
|
18,500
|
28/07/2021
|
tbr GSL Chloe
|
2,546
|
12,212
|
2012
|
ONE
|
4Q21
|
4Q21
|
15,000
|
29/07/2021
|
tbr GSL Maren
|
2,546
|
12,212
|
2014
|
Westwood
|
4Q22
|
1Q23
|
19,250
|
29/07/2021
|
tbr GSL Amstel
|
1,118
|
5,167
|
2008
|
CMA CGM
|
3Q23
|
3Q23
|
11,900
|
29/07/2021
|
(1) |
On February 9, 2021 we announced that we had contracted to purchase seven ships of approximately 6,000 TEU each, which have now been delivered. Contract cover for each
vessel is for a firm period of at least three years from the date each vessel is delivered, with charterers holding a one-year extension option on each charter, followed by a second option with the period determined by (and terminating prior
to) each vessel's 25th year dry-docking & special survey. Five ships are chartered to Maersk from delivery; the remaining two (GSL Maria & GSL Violetta) will be chartered to Maersk upon completion of short charters to Wan
Hai and ONE, respectively. The charter rates are confidential.
|
(2) |
On June 16, 2021 we announced that we had contracted to purchase four ultra-high reefer ships of 5,470 TEU each. These ships are scheduled to deliver in 3/4Q21. Contract
cover is for a firm period of three years, with a period of an additional three years at charterers' option. The charter rates are confidential.
|
(3) |
GSL Eleftheria. Chartered to Maersk at $12,000 per day through September 2021; thereafter extended at $37,975 per day.
|
|
Number of
Shares Beneficially Owned Prior to Offering(1) |
Number of
Shares Being Offered**(2) |
Number of Shares
Beneficially Owned After Offering |
|||||||||||||||||
Securityholders
|
Number
|
Percent
|
Number
|
Percent
|
||||||||||||||||
George Giouroukos
|
1,960,040
|
5.37
|
%
|
507,095
|
1,452,945
|
3.97
|
%
|
|||||||||||||
Ian Webber
|
451,241
|
1.24
|
%
|
445,812
|
5,429
|
*
|
||||||||||||||
Thomas A. Lister
|
259,608
|
*
|
262,529
|
-
|
-
|
|||||||||||||||
Anastasios Psaropoulos
|
239,492
|
*
|
235,625
|
-
|
-
|
|||||||||||||||
Maria Danezi
|
46,898
|
*
|
48,937
|
-
|
-
|
|||||||||||||||
George Giannopoulos
|
12,159
|
*
|
12,688
|
-
|
-
|
(1) |
In computing the number of shares of Common Stock beneficially owned by a person and the percentage ownership of that person, we deemed to be outstanding all shares of Common Stock subject to stock options, restricted stock units or
other derivative securities held by that person that are exercisable, vested or convertible as of August 20, 2021 or that will become exercisable, vested or convertible within 60 days after August 20, 2021.
|
(2) |
The numbers of shares of Common Stock reflect all shares of Common Stock acquired or issuable to a person pursuant to applicable grants previously made under the Plans irrespective of whether such grants are exercisable, vested or
convertible as of August 20, 2021 or will become exercisable, vested or convertible within 60 days after August 20, 2021.
|
• |
directly by the selling securityholders;
|
• |
through underwriters, broker-dealers or agents, who may receive compensation in the form of discounts, commissions or agent's commissions from the selling securityholders or the purchasers of
the Shares; or
|
• |
through a combination of any of these methods of sale.
|
• |
fixed prices;
|
• |
prevailing market prices at the time of sale;
|
• |
prices related to such prevailing market prices;
|
• |
varying prices determined at the time of sale; or
|
• |
negotiated prices.
|
• |
on any national securities exchange or quotation service on which the Shares may be listed or quoted at the time of sale, including Nasdaq;
|
• |
in the over-the-counter market;
|
• |
in transactions otherwise than on such exchanges or services or in the over-the-counter market;
|
• |
through trading plans entered into by the selling securityholder pursuant to Rule 10b5-1 under the Exchange Act that are in place at the time of an offering pursuant to this Reoffer Prospectus
and any applicable prospectus supplement hereto that provide for periodic sales of their securities on the basis of parameters described in such trading plans;
|
• |
any other method permitted by applicable law; or
|
• |
through any combination of the foregoing.
|
(1) |
The Registrant's latest annual report on Form 20-F
for the year ended December 31, 2020 filed with the Commission on March 19, 2021, which contains audited consolidated financial statements for the most recent fiscal year for which those statements have been filed.
|
(2) |
The Registrant's reports of foreign private issuer on Form 6-K (including exhibits thereto) furnished to the SEC on: April 14, 2021, May 12, 2021, August 6, 2021 and August 13, 2021.
|
(3) |
(1) |
to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
|
i. |
to include any prospectus required by Section 10(a)(3) of the Securities Act;
|
ii. |
to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and
|
iii. |
to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this
Registration Statement.
|
(2) |
that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
|
(3) |
to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
|
GLOBAL SHIP LEASE, INC.
|
||
By:
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/s/ Ian J. Webber
|
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Name:
|
Ian J. Webber
|
|
Title:
|
Chief Executive Officer
|
/s/ George Giouroukos |
Executive Chairman
|
||||||
George Giouroukos
|
|||||||
/s/ Michael S. Gross |
Director
|
||||||
Michael S. Gross
|
|||||||
/s/ Alain Wils |
Director
|
||||||
Alain Wils
|
|||||||
/s/ Philippe Lemonnier |
Director
|
||||||
Philippe Lemonnier
|
|||||||
/s/ Michael Chalkias |
Director
|
||||||
Michael Chalkias
|
|||||||
/s/ Henry Mannix III |
Director
|
||||||
Henry Mannix III
|
|||||||
/s/ Alain Pitner |
Director
|
||||||
Alain Pitner
|
|||||||
/s/ Menno van Lacum |
Director
|
||||||
Menno van Lacum
|
|||||||
/s/ Ian J. Webber |
Chief Executive Officer
|
||||||
Ian J. Webber
|
|||||||
/s/ Thomas A. Lister |
Chief Commercial Officer
|
||||||
Thomas A. Lister
|
|||||||
/s/ Anastasios Psaropoulos |
Chief Financial Officer
|
||||||
Anastasios Psaropoulos
|
PUGLISI & ASSOCIATES
|
||
By:
|
/s/ Donald J.. Puglisi
|
|
Name:
|
Donald J. Puglisi
Authorized Representative in the United States
|
Exhibit
Number
|
Description of Document
|
4.1
|
|
|
|
|
|
5.1
|
|
|
|
|
|
23.1
|
|
|
23.2
|
|
Consent of Seward & Kissel LLP, U.S. Counsel to the Company (included in Exhibit 5.1)
|
|
|
|
24.1
|
|