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.
For comments and feedback: editorial@rttnews.com