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GLOBAL SHIP LEASE Global Ship Lease Reports Results for the Second Quarter of 2021 August 5 , 2021 Declares Dividend of $ 0.25 per Common Share Expanded Fleet by over 50 % in Year to Date LONDON , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Global Ship Lease , Inc. ( NYSE : GSL ) ( the " Company " , " Global Ship Lease " or " GSL " ) , an owner of containerships , announced today its unaudited results for the three and six month periods ended June 30 , 2021 . Second Quarter 2021 and Year To Date Highlights - Reported operating revenue of $ 82.9 million for the second quarter 2021. Operating revenue for the six months ended June 30 , 2021 , was $ 155.9 million . - Reported net income available to common shareholders of $ 30.1 million for the second quarter 2021 after $ 7.8 million net gain from sale of the 2,272 TEU 2001 built , containership , La Tour and a prepayment fee of $ 1.4 million on the completion of the refinancing of our Deutsche , CIT , HCOB , Entrust , Blue Ocean Credit Facility ( " Odyssia Credit Facilities " ) , giving normalized net income ( 3 ) for the quarter of $ 23.7 million . - For the six months ended June 30 , 2021 , net income available to common shareholders was $ 34.2 million , after $ 5.8 million premium paid on the full optional redemption of our outstanding 9.875 % Senior Secured Notes due 2022 ( " 2022 Notes " ) on January 20 , 2021 , an associated non - cash write off of deferred financing charges of $ 3.7 million and of original issue discount of $ 1.1 million , a non - cash charge of $ 1.3 million for accelerated stock based compensation expense , a prepayment fee of $ 1.6 million on the partial repayment of the Blue Ocean Junior Credit Facility , the prepayment fee of $ 1.4 million on the completion of the refinancing of our Odyssia Credit Facilities and the $ 7.8 million net gain from sale of La Tour , giving normalized net income ( 3 ) for the six months of $ 41.5 million . - Generated $ 51.5 million of Adjusted EBITDA ( 3 ) for the second quarter 2021. Adjusted EBITDA for the six months ended June 30 , 2021 was $ 96.2 million . - Earnings per share for the second quarter of 2021 was $ 0.83 . Earnings per share for the six months ended June 30 , 2021 was $ 1.00 . - Declared a dividend of $ 0.25 per Class A common share for the second quarter of 2021 to be paid on September 3 , 2021 to common shareholders as of August 23 , 2021. Paid a dividend of $ 0.25 per Class A common share for the first quarter 2021 on June 3 , 2021 to common shareholders of record as of May 24 , 2021 , more than double the $ 0.12 per Class A common share announced on January 12 , 2021 , as a result of fleet growth and success in rechartering . - During the second quarter 2021 , raised $ 23.6 million net proceeds under the ATM program for the 8.75 % Series B Preferred Shares ( " Series B Preferred Shares " ) . During the period from July 1 , 2021 through August 4 , 2021 , a further $ 6.4 million net proceeds was raised under this ATM program . Since the inception of this ATM program a total of $ 60.8 million net proceeds has been raised . - During the second quarter 2021 , raised a further $ 7.6 million net proceeds under the ATM program for the 8.00 % Senior Unsecured Notes due 2024 ( " 2024 Notes " ) . The total outstanding 2024 Notes as at June 30 , 2021 was $ 117.5 million , which includes the issuance of $ 35.0 million of the 2024 Notes to the sellers of 12 vessels , as part of the consideration . Since the inception of this ATM program a total of $ 50.9 million net proceeds has been raised . -During the period from April 1 , 2021 through August 4 , 2021 , took delivery of seven 6,000 TEU Post - Panamax containerships purchased for an aggregate price of $ 116.0 million , and chartered them back to Maersk Line , as announced in the press release of February 9 , 2021. In April 2021 , entered into a new credit facility with HCOB for six of these seven ships and drew down all tranches of $ 10.7 million each , amounting to a total of $ 64.2 million . One tranche was drawn down in July . The seventh vessel was financed by a sale and leaseback agreement with Neptune for $ 14.7 million . - On April 13 , 2021 , Kelso and Maas Capital sold an aggregate of 5,175,000 Class A common shares in an underwritten public offering at $ 12.50 per share . Our free float increased , although we did not receive any proceeds from the sale of these Class A common shares . - On April 16 , 2021 , drew down in full on a new $ 51.7 million secured credit facility to refinance one of the three existing tranches of the Odyssia Credit Facilities that had a maturity date on June 30 , 2022. The second tranche was refinanced on May 7 , 2021 with a new $ 51.7 million secured credit facility . The third tranche was refinanced on May 27 , 2021 , with a new $ 54.0 million sale and leaseback agreement with CMBFL . - On June 8 , 2021 , announced agreement to purchase from Borealis Finance LLC , 12 containerships with an average size of approximately 3,000 TEU and a weighted average age of 11 years for an aggregate purchase price of $ 233.9 million . All 12 vessels were delivered between July 15 and July 29 , 2021. In July 2021 , entered into a new syndicated credit facility with HCOB and Credit Agricole for a total of $ 140.0 million to part finance the purchase price . The remaining purchase price was financed by cash on hand and the issuance of $ 35.0 million of our existing 2024 Notes to the sellers of the ships . - On June 16 , 2021 , announced agreement to purchase four 5,470 TEU ultra - high reefer capacity Panamax containerships with an average age of approximately 11 years for an aggregate purchase price of $ 148.0 million . On delivery , the ships will be chartered to a leading liner operator for a firm period of three years each , with a charterer's option for a period of an additional three years . The ships are scheduled for delivery during the third and fourth quarter of 2021. The purchase price is expected to be covered by cash on hand and new senior secured debt . - On June 30 , 2021 , sold the 2,272 TEU 2001 built , La Tour , for net proceeds of $ 16.5 million resulting in a net gain of $ 7.8 million .