UPDATE 1-Box Ships files for IPO of up to $195 million

* Plans to sell 10 mln shares for $15-$17 each

* Intends to list on NYSE under “TEU”

* Morgan Stanley, UBS lead underwriters

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April 4 (Reuters) – Box Ships Inc filed with U.S. regulators
on Monday to raise up to $195 million in an initial public
offering of common stock.

The newly formed international shipping company plans to
sell 10 million shares for between $15 and $17 each.

The company said it would use proceeds from the offering to
partially fund acquisitions of its fleet and as working capital.
It intends to employ its ships for short- to medium-term time
charters of one to five years.

Box Ship’s shares are expected to list on the New York Stock
Exchange under the symbol “TEU”.

The underwriters, including Morgan Stanley, UBS Securities,
ABN AMRO Bank and Stifel, Nicolaus & Company, can buy an
additional 1.5 million shares to cover excess demand, the
company said in a regulatory filing.
(Reporting by Aditi Sharma in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-Box Ships files for IPO of up to $195 million