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Deals

Box Ships Closes $10M CMPO at 14% Discount via Maxim Group, National Securities Corp.

By Brett Goetschius | April 10, 2014

Box Ships Inc. (TEU) announced that it has raised $10,250,000 in a CMPO/Overnight transaction. The common stock was sold at $2.05 per share, an approximate 14% discount to the market price ($2.38) of TEU at deal announcement. A series of 2,000,000 60-Month Warrants with an exercise price of $2.65 per share (11.34% premium) was issued to the investors in this transaction. Maxim Group LLC acted as Sole Book-Running Manager and National Securities Corporation acted as Co-Manager on the transaction. Placement Agent counsel was Ellenoff Grossman & Schole LLP and issuer counsel was Seward & Kissel LLP. The transaction is expected to close on April 15, 2014.

This Placement is part of a $11,275,000 financing. The other $1,025,000 was funded in the form of Common Stock sold in a concurrent placement.

via PlacementTracker.

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