This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Box Ships Inc. Prices Public Offering Of Its Common Shares

ATHENS, Greece, July 13, 2012 /PRNewswire/ -- Box Ships Inc. (NYSE: TEU) today announced that it has priced its previously announced public offering of $30,000,005 of its common shares at $7.00 per share.  The offering is expected to close on July 18, 2012.  The Company has granted the underwriters a 30-day option to purchase an additional $4,500,000 of its common shares to cover over-allotments, if any.  Neige International Inc., a company controlled by our Chairman, President and Chief Executive Officer, Mr. Michael Bodouroglou, has agreed to purchase 2.6% of the common shares sold in the offering at the public offering price.

The Company intends to use a portion of the net proceeds of the offering to redeem 692,641 of the 1,333,333 9.75% Series B Cumulative Redeemable Perpetual Preferred Shares issued to Neige International Inc. in a previously announced private transaction, the proceeds of which were used to partially finance the acquisition price of the vessels OOCL Hong Kong and OOCL China delivered to us on June 25, 2012 and July 5, 2012, respectively, at a price equal to the liquidation preference of $30.00 per share, plus accrued and unpaid dividends, and for general corporate purposes, which may include the repayment of debt.

Barclays, Credit Suisse and Deutsche Bank Securities are acting as joint book runners of the offering. Dahlman Rose & Company is acting as co-manager for the offering.

This offering is being made only by means of a prospectus supplement and accompanying base prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by telephone at 1-888-603-5847 or by email to Barclaysprospectus@broadridge.com), Credit Suisse at Credit Suisse Securities ( USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 (or by telephone at 1-800-221-1037 or by e-mail to newyork.prospectus@credit-suisse.com) or Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005-2836 (or by telephone at 1-800-503-4611 or by e-mail to prospectus.cpdg@db.com).

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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs