Merrill Lynch Delivers ATM Machine to Ship Finance International

This week Ship Finance International Limited (“SFL”) qualified as a WKSI or Well Known Seasoned Issuer by having $700 million of unaffiliated equity capital outstanding. With Mr. Fredriksen’s substantial indirect holdings being treated as an affiliate, this is quite an accomplishment. As a consequence, SFL’s fillings are immediately effective and do not require SEC review.

Simultaneously, the company took the step of filing a shelf registration to offer any of the following securities: common shares, preferred shares, debt securities, including guaranteed debt securities, warrants, purchase contracts or units. Having set the groundwork, the company than issued, under the terms of this shelf registration, a prospectus supplement under which they entered into ATM Equity Offering Sales Agreement with Merrill Lynch for up to 7 million shares of its common shares

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