Box Ships Inc. Announces Follow-on
Preferred Stock Offering

Athens, Greece, October 3, 2013

Box Ships Inc. (NYSE:TEU) (the “Company”) today announced that it intends to offer shares of its Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Stock”) in a follow-on underwritten public offering. The Company intends 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 Series C Preferred Stock is listed on the New York Stock Exchange under the symbol “TEUPRC.” The net proceeds of the offering are expected to be used by the Company to repay the outstanding balance plus accrued interest of its unsecured loan with Paragon Shipping Inc., and any remaining net proceeds are expected to be used for general corporate purposes, which may include the repayment of debt and the acquisition of vessels.

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

This offering will be made only by means of a prospectus supplement and accompanying base prospectus. A prospectus supplement related to the offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website located at Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174 (or by telephone at 212-895-3685 or by email to This offering will be made pursuant to the Company’s existing shelf registration statement previously filed with the SEC and declared effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Box Ships Inc. press release