Greece's Box Ships Announce Preferred Stock Offering

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.