This Day On The Street
Continue to site
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

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, 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 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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs