SOURCE: Danaos

September 19, 2006 17:44 ET

Danaos Corporation Announces Filing of Registration Statement for Initial Public Offering

ATHENS, GREECE -- (MARKET WIRE) -- September 19, 2006 -- Danaos Corporation ("Danaos") announced today that it has filed a registration statement with the Securities and Exchange Commission in anticipation of a planned initial public offering of its common stock.

Danaos is an international owner of containerships, chartering their vessels to many of the world's largest liner companies. Their current fleet of 27 containerships aggregating 116,115 TEUs makes them among the ten largest containership charter owners in the world, based on total TEU capacity. Furthermore, the company has on order 16 additional containerships aggregating 84,704 with scheduled deliveries up to the end of 2009.

The initial public offering will include 10,250,000 shares of common stock. The offering may increase to approximately 11,787,500 shares of common stock if the underwriters exercise in full their over-allotment option. The company plans to list its shares on the New York Stock Exchange under the ticker symbol "DAC."

The offering will be book-run by Merrill Lynch & Co. and Citigroup Corporate and Investment Banking.

A copy of the prospectus relating to these securities may be obtained when available from Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080 or Citigroup Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different.

Contact Information

  • For further information please contact:

    Company Contact:
    Dimitri Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel: +30 210 419 6481
    E-Mail: cfo@danaos.com

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel. +30 210 419 6400
    E-Mail: coo@danaos.com

    Investor Relations and Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    New York
    Tel. 212-661-7566
    E-Mail: nbornozis@capitallink.com