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

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  • Global Ship Lease Inc (NYSE: GSL) announced that B. Riley Financial Inc (NASDAQ: 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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