Navios Maritime Partners L.P. Announces $35 Million Public Offering of Common Units
February 13 2018 - 10:00PM
Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM), an
international owner and operator of container and drybulk vessels,
announced today that it has agreed with investors to sell
approximately 18.4 million common units for an aggregate of
approximately $35.0 million in a registered direct offering at
$1.90 per common unit, which includes the sale of approximately $5
million of common units to Navios Maritime Holdings Inc. The
offering is expected to close on or about February 21, 2018. Navios
Partners estimates that the net proceeds from the offering, after
deducting estimated offering expenses and placement agent fees,
will be approximately $33.3 million. Navios Partners expects to use
the net proceeds from the registered direct offering for general
working capital purposes, including vessel acquisitions.
Navios Partners’ common units trade on the New York Stock
Exchange under the symbol “NMM.”
Fearnley Securities, Inc. acted as sole lead manager. S. Goldman
Advisors LLC and Fearnley Securities AS acted as lead placement
agents. Fearnley Securities AS is not a U.S. registered
broker-dealer and to the extent that this offering is made within
the United States, its activities will be effected only to the
extent permitted by Rule 15a-6 of the Securities Exchange Act of
1934, as amended.
A shelf registration statement relating to Navios Partners’
common units was previously filed by Navios Partners with the U.S.
Securities and Exchange Commission and has been declared
effective.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This offering may be made
only by means of a prospectus supplement and accompanying base
prospectus. When available, copies of the prospectus supplement and
accompanying base prospectus related to this offering may be
obtained from: Fearnley Securities, Inc., 880 Third Avenue, 16th
Floor, New York, NY 10022, Attention: Prospectus Department or by
emailing prospectus@fearnleys.com.
About Navios Maritime Partners L.P.
Navios Maritime Partners L.P. (NYSE:NMM) is a publicly traded
master limited partnership which owns and operates container and
drybulk vessels.
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 Navios Partners’ growth strategy and
measures to implement such strategy; including expected vessel
acquisitions and entering into further time charter. Words such as
“may”, “expects”, “intends”, “plans”, “believes”, “anticipates”,
“hopes”, “estimates”, and variations of such words and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements include, without limitation,
statements related to the anticipated public offering of shares.
These forward-looking statements are based on the information
available to, and the expectations and assumptions deemed
reasonable by Navios Partners at the time these statements were
made. Although Navios Partners believes that the expectations
reflected in such forward-looking statements are reasonable, 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 Partners. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to,
uncertainty relating to global trade, including prices of seaborne
commodities and continuing issues related to seaborne volume and
ton miles, our continued ability to enter into long-term time
charters, our ability to maximize the use of our vessels, expected
demand in the dry cargo shipping sector in general and the demand
for our Panamax, Capesize, Ultra-Handymax and Container vessels in
particular, fluctuations in charter rates for dry cargo carriers
and container vessels, the aging of our fleet and resultant
increases in operations costs, the loss of any customer or charter
or vessel, the financial condition of our customers, changes in the
availability and costs of funding due to conditions in the bank
market, capital markets and other factors, increases in costs and
expenses, including but not limited to: crew wages, insurance,
provisions, port expenses, lube oil, bunkers, repairs, maintenance
and general and administrative expenses, the expected cost of, and
our ability to comply with, governmental regulations and maritime
self-regulatory organization standards, as well as standard
regulations imposed by our charterers applicable to our business,
general domestic and international political conditions,
competitive factors in the market in which Navios Partners
operates; risks associated with operations outside the United
States; and other factors listed from time to time in Navios
Partners’ filings with the U.S. Securities and Exchange Commission,
including its Form 20-Fs and Form 6-Ks. Navios Partners 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 Partners’ expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based. Navios Partners
makes no prediction or statement about the performance of its
common units.
Contacts
Navios Maritime Partners L.P.+1 (212) 906
8645Investors@navios-mlp.com
Nicolas BornozisCapital Link, Inc.+1 (212) 661
7566naviospartners@capitallink.com
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