Navios Maritime Partners L.P. Announces Closing of $35.0 Million Offering
February 21 2018 - 4:30PM
Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM), an
international owner and operator of container and dry bulk vessels,
announced today that it has closed the previously announced
offering of approximately 18.4 million common units at $1.90 per
common unit, raising approximately $35.0 million of gross proceeds.
Navios Partners will use the net proceeds of the offering for
general working capital purposes, including vessel acquisitions.
Navios Partners’ common units trade on the New York Stock
Exchange under the symbol “NMM.”
Following the closing, Navios Partners will have 167,589,764
common units and 3,420,203 general partner units outstanding. This
includes $5.0 million of common units purchased by Navios Maritime
Holdings Inc. (“Navios Holdings”), and the purchase of general
partner units by Navios GP L.L.C. (“Navios GP”), our general
partner, a wholly-owned subsidiary of Navios Holdings, to maintain
its 2.0% general partner interest in Navios Partners. As a
result, Navios Holdings owns a 20.2% interest in Navios Partners,
which includes its 2.0% general partner interest in Navios
Partners, which is held through Navios GP.
Fearnley Securities, Inc. acted as the sole lead manager.
S. Goldman Advisors LLC and Fearnley Securities AS acted as the
lead placement agents in the registered direct offering. 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 (“SEC”) 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. The registered direct
offering was made by means of a preliminary prospectus supplement
and a prospectus supplement, and the accompanying base prospectus,
which have been filed with the SEC, File No. 333-215529.
About Navios Maritime Partners L.P.
Navios Partners (NYSE:NMM) is a publicly traded master limited
partnership which owns and operates container and dry bulk
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 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 SEC, 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
Investor Relations Contact:Navios Maritime Partners L.P.+1 (212)
906 8645Investors@navios-mlp.com
Nicolas BornozisCapital Link, Inc.+1 (212) 661
7566naviospartners@capitallink.com
Navios Maritime Partners (NYSE:NMM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Navios Maritime Partners (NYSE:NMM)
Historical Stock Chart
From Sep 2023 to Sep 2024