Performance Shipping offers new convertible preferreds for common shares

By Wendy Van Sickle

Columbus, Ohio, Dec. 20 – Performance Shipping Inc. began an offer to exchange up to 4,066,181 of its outstanding common shares for newly issued shares of its $25-par series B convertible cumulative perpetual preferred stock, according to a news release.

The company is offering 0.28 series B preferred shares for each common share.

The exchange offer will expire at 5 p.m. ET on Jan. 21.

Computershare Trust Co., NA is the depositary for the exchange offer. Georgeson LLC is the information agent.

Performance Shipping is a shipping services company based in Athens.

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