Box Ships will raise $21 million via stock sale

   The Athens, Greece-based containership chartering firm Box Ships said Wednesday it has priced its previously announced public offering of 4 million common shares at $5.25 per share. 
   The offering is expected to close on March 18. 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 about $21 million. The net proceeds of the offering will be used for general corporate purposes, which may include the repayment of debt and the acquisition of vessels, the company said.
   Box Ships currently has a fleet of nine containerships with a total carrying capacity of 43,925 TEUs and a TEU-weighted average age of 8.1 years. The company’s shares trade on the New York Stock Exchange under the symbol TEU. – Chris Dupin