Kelso Lowers Stake In Global Ship Lease To 4.9%; Insiders Buys Shares

Global Ship Lease Inc GSL announced that B. Riley Financial Inc RILY purchased 3 million Class A common shares from Kelso & Company for $19.17 per share, a discount of 5% to the closing price on August 31, 2021.
The company noted that Insiders purchased about 2.5 million common shares.
About 0.52 million of the shares acquired by B. Riley were purchased at the same price of $19.17 by Global Ship Lease's Executive Chairman George Youroukos.
A further 0.52 million shares were purchased by the company at the same cost and will be retired.
This transaction reduces the issued and outstanding shares of the company to 36.22 million shares.
Kelso's holdings of Global Ship Lease have been reduced to ~4.9%, while Youroukos's stake has increased to ~6.4%.
Price Action: GSL shares closed higher by 8.23% at $21.84 on Wednesday.