Poseidon Acquisition Corp. completes acquisition of Atlas Corp.

Atlas Corp. and Poseidon Acquisition announced the completion of the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. Pursuant to the terms of the Agreement and Plan of Merger, dated October 31, 2022, by and among the Company, Poseidon and Poseidon Merger Sub, Merger Sub merged with and into the Company, with the Company continuing as the surviving company in the Merger. Each Atlas common share issued and outstanding immediately prior to the effective time of the Merger, other than common shares held by Fairfax, Washington and Mr. Sokol, was converted into the right to receive $15.50 per share in cash. In addition, as previously announced, the first quarter dividend of $0.125 per share payable to common shareholders of record as of March 20, 2023 will be paid on March 31, 2023. In connection with the consummation of the Merger, the Company requested that trading of the common shares on the New York Stock Exchange be suspended with immediate effect . Atlas preferred shares will remain outstanding and continue to trade on the NYSE. Each of the Merger and the delisting constitutes a "Make-Whole Fundamental Change" under that certain indenture dated as of December 21, 2020, by and among the Company, Seaspan Corporation, a wholly owned subsidiary of the Company and The Bank of New York Mellon, as trustee, governing the exchangeable senior notes due 2025.