Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 3:48 PM

This Slide: #477 of 609

Slide #477. Box Ships Inc. — Preferred Stock Offering

Company:	Box Ships Inc. (TEU)
Date announced:	10/3/2013
Security type:	Series C Cumulative Redeemable Perpetual Preferred Shares (TEU.PRC)
Shares Offered:	340,000
Date of Pricing:	10/4/2013
Price Per Share:	$24.00
Preferred Stock Offering Details:	Box Ships Inc. (NYSE:TEU) (the "Company") today announced that it intends to offer shares of its Series C Cumulative Redeemable Perpetual Preferred Shares (the "Series C Preferred Stock") in a follow-on underwritten public offering. The Company intends to grant the underwriters a 45-day option to purchase additional shares of Series C Preferred Stock on the same terms and conditions to cover over-allotments, if any. The Series C Preferred Stock is listed on the New York Stock Exchange under the symbol "TEUPRC."

Box Ships is an international shipping company engaged in the seaborne transportation of containers worldwide. Co. is focused on the container shipping industry. Co.'s fleet is comprised of approximately nine containerships with a TEU weighted average age of 10.2 years, a total capacity of 43,925 TEU and a weighted average remaining charter duration of 6 months (weighted by aggregate contracted charter hire). Co. operates through a number of wholly-owned, vessel-owning subsidiaries incorporated in the Republic of Liberia, the Republic of the Marshall Islands and Hong Kong.

Preferred: TEU.PRC