SAN FRANCISCO, Aug. 12, 2008 (PRIME NEWSWIRE) -- CAI International, Inc.
(NYSE:CAP) today announced the pricing of a public offering of 2,250,000 shares
of its common stock at $15.50 per share, 750,000 of which are being sold by CAI
International and 1,500,000 of which are being sold by Mr. Hiromitsu Ogawa, CAI
International's founder and Executive Chairman. CAI International will not
receive any proceeds from the sale of shares by Mr. Ogawa. CAI International and
Mr. Ogawa have granted to the underwriters a 30-day option to purchase an
aggregate of up to 337,500 additional shares of CAI International's common
stock, 112,500 shares from CAI International and 225,000 shares from Mr. Ogawa,
at the public offering price to cover any over-allotments.
Piper Jaffray & Co. and Banc of America Securities LLC are acting as joint
book-running managers, Jefferies & Company, Inc. is acting as co-lead manager
and William Blair & Company, L.L.C. is acting as co-manager for the offering.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission and has become effective. This press 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 state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
Copies of the prospectus relating to this offering may be obtained upon making a
request in writing to Piper Jaffray & Co., Attn: Equity Capital Markets, 800
Nicollet Mall, J12S03, Minneapolis, MN 55402-7020 or by calling Piper Jaffray &
Co. toll-free at (800) 747-3924 or emailing prospectus@pjc.com, or to Banc of
America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd
Floor, New York, New York 10001 or by calling Banc of America Securities LLC
toll-free at (800) 294-1322 or emailing
dg.prospectus_distribution@bofasecurities.com.
About CAI International, Inc.
CAI International is one of the world's leading managers and lessors of
intermodal freight containers. As of June 30, 2008, CAI International operated a
worldwide fleet of 791,000 TEU of containers through 13 offices located in 11
countries.
The CAI International logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=3968
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CONTACT: CAI International, Inc.
Victor Garcia, Chief Financial Officer
(415) 788-0100
vgarcia@caiintl.com
