Box Ships (TEU) Prices 4M Common Offering

Box Ships (NYSE: TEU) announced that it has priced its previously announced public offering of 4,000,000 of its common shares at $5.25 per share. The offering is expected to close on March 18, 2013. The Company has granted the underwriters a 30-day option to purchase an additional 600,000 of its common shares to cover over-allotments, if any. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $21 million. 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. Maxim Group LLC and National Securities Corporation are acting as co-managers for the offering.

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