Greece's Box Ships Announce Preferred Stock Offering

MarineLink.com
Wednesday, July 17, 2013
Image courtesy of Box Ships

Box Ships Inc. (NYSE:TEU) intends to offer shares of its newly designated Series C Cumulative Redeemable Perpetual Preferred Shares in an underwritten public offering.

The public offering price and other terms of the Series C Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company also plans 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 Company has applied to list the Series C Preferred Stock on the New York Stock Exchange.

The Company plans to use the net proceeds of the offering to redeem all of its outstanding Series B-1 Preferred Shares, to repay a portion of its outstanding debt and for general corporate purposes.

Maxim Group LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), and MLV & Co. LLC are acting as the joint bookrunning managers for the offering. Global Hunter Securities and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), are acting as lead managers for the offering, and Aegis Capital Corp. is acting as co-manager for the offering.

About Box Ships Inc.

Box Ships Inc. is an Athens, Greece-based international shipping company specializing in the transportation of containers. The company's current fleet consists of nine containerships with a total carrying capacity of 43,925 TEU and a TEU weighted average age of 8.5 years.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Crowley Ships Massive Electrical Equipment

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico.

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

Finance

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Container Ships

Uber-Style Cargo Moving App Catching on at Congested LA Ports

Los Angeles area ports are using a Uber-style app called Cargomatic to help clear congestion from recent slowdowns, the Wall Street Journal reported yesterday.    After

MOL Expands Container Fleet

Mitsui O.S.K. Lines, Ltd. has signed a deal for construction of four 20,000 TEU containerships with Samsung Heavy Industries. MOL also concluded an MOU for long-term chartering of two 20,

Mitsubishi Bags Fourth LPG Carrier Order from Astomos

Tokyo-based Astomos Energy Corp has placed an order today with Mitsubishi Heavy Industries (MHI) for a very large liquefied petroleum gas (LPG) carrier.     The 83,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2160 sec (5 req/sec)