Navios Maritime Holdings Inc. Announces Expiration of Exchange Offer and Acceptance of Validly Tendered Preferred Stock
April 19 2017 - 8:51AM
Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”)
(NYSE:NM) announced that the offer to exchange (the “Exchange
Offer”) newly issued shares of common stock of Navios
Holdings (“Common Stock”) for any and all outstanding American
Depositary Shares, each representing 1/100th of a share of 8.75%
Series G Cumulative Redeemable Perpetual Preferred Stock (the
“Series G ADSs”) and 8.625% Series H Cumulative Redeemable
Perpetual Preferred Stock (the “Series H ADSs”), has expired and
that the Company has accepted all validly tendered Series G ADSs
and Series H ADSs.
A total of 76,545 Series G ADSs and Series H
ADSs were validly tendered and accepted by the Company for exchange
in the Exchange Offer.
The Company is issuing a total of 625,815 shares
of its Common Stock in exchange for the Series G ADSs and Series H
ADSs tendered and accepted by the Company in the Exchange
Offer.
The Company made this Exchange Offer to provide
holders of illiquid ADSs the opportunity to exchange their ADSs for
the growth potential of liquid Common Stock.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE:NM) is a
global, vertically integrated seaborne shipping and logistics
company focused on the transport and transshipment of drybulk
commodities including iron ore, coal and grain. For more
information about Navios Holdings please visit our website:
www.navios.com.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events and expectations
including with respect to the completion of the Exchange Offer.
Although Navios Holdings believes that the expectations reflected
in such forward-looking statements are reasonable at the time made,
no assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Navios Holdings. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Navios Holdings expressly
disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in Navios Holdings' expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based.
Contact
Navios Maritime Holdings Inc.
+1.212.906.8643
investors@navios.com
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