It said the funds would be used for general corporate purposes, whichmay include repaying debt, and buying ships.

GlobalHunter Securities has been unveiled as the lead managing underwriter and solebook-runner of the offering.

BoxShips said it intends to grant the underwriters a 30-day option to purchase an additional$3.75m of its shares to cover over-allotments.

Thefund raiser is being made under an existing shelf registration statement filedwith the US Securities & Exchange Commission (SEC) and is effective.

Plansfor a stock offering come a day after Box Ships said it had securedmore breathing space to repay an outstanding loan from major shareholder ParagonShipping.