Box Ships Inc. Announces Public Offering of $25,000,000 of its Common Shares
ATHENS, Greece, March 12, 2013 /PRNewswire/ -- Box Ships Inc. (NYSE: TEU) today announced that it intends to offer and sell $25,000,000 of its common shares in an underwritten public offering. The Company intends to grant the underwriters a 30-day option to purchase an additional $3,750,000 of its common shares to cover over-allotments, if any. The net proceeds of the offering are expected to be used by the Company for general corporate purposes, which may include the repayment of debt and the acquisition of vessels.
Global Hunter Securities is acting as lead managing underwriter and sole book-runner of the offering.
This offering is being made only by means of a prospectus supplement and accompanying base prospectus. A prospectus supplement related to the offering will be filed with the U.S. Securities and Exchange Commission (the "SEC") and will be available on the SEC's website located at www.sec.gov. When available, copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Global Hunter Securities, 777 Third Avenue, 22nd Floor, New York, NY 10017 (or by telephone at 646-264-5629 or by email to firstname.lastname@example.org).
A shelf registration statement relating to the shares was filed with the SEC and is effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other 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 other jurisdiction.
About Box Ships Inc.
Box Ships Inc. is an Athens, Greece-based international shipping company specializing in the transportation of containers. The Company's current fleet consists of nine containerships with a total carrying capacity of 43,925 TEU and a TEU weighted average age of 8.1 years. The Company's shares trade on the New York Stock Exchange under the symbol "TEU."
Certain of the statements made in this press release are forward looking, such as those, among others, relating to the Company's expectations regarding the completion of the proposed public offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the proposed public offering. There can be no assurance that the Company will be able to complete the proposed public offering on terms satisfactory to it, or at all.
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SOURCE Box Ships Inc.