Mobile Mini to redeem 35% of 9½% notes, repay bank debt with stock sale proceeds

New York, March 23 - Mobile Mini, Inc. said it plans to redeem 35% of its $150 million of 9½% senior notes due 2013 and repay borrowings on its $350 million revolving credit facility using proceeds from a sale of common stock.

The notes will be redeemed at a price of 109.5 plus accrued interest.

The Tempe, Ariz., provider of portable storage announced Thursday that it priced 4 million shares at $27.75. Net proceeds are expected to be $104.52 million. There is also a greenshoe for a further 600,000 shares.

CIBC World Markets Corp. and Deutsche Bank Securities Inc. were joint bookrunners for the stock offering.

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