- 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.
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