Box Ships Inc. (TEU) announced that it has priced its public offering of 4 million 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.
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