Bulker owner Paragon says 1,437,500 Box Ships shares were sold to a third party at $0.86 a pop.
Paragon boss Michael Bodouroglou is the largest investor in Box Ships with a 16.5% stake worth over $4.5m at the sales price.
Independently listed Paragon previously held 3,437,500 shares, giving it 11% of the stock, according to the Box Ships annual report.
