Navios Maritime Partners L.P. Announces $100.0 Million Offering at $2.10 per Common Unit
March 14 2017 - 4:58PM
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 agreed with investors to sell
approximately 47.6 million common units for an aggregate of $100.0
million in a registered direct offering at $2.10 per common unit.
The offering is expected to close on or about March 20, 2017.
Navios Partners estimates that the net proceeds from the offering,
after deducting estimated offering expenses and placement agent
fees, are expected to be approximately $95.0 million. 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.”
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. 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, (tel: (212) 277-3636).
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 charters. 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.
Although the 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 are based upon a number of
assumptions and estimates which are inherently subject to
significant risks, 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 changes in the
demand for dry bulk vessels, 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 the Navios Partners’ filings with the SEC. 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.
Contacts
Investor Relations Contact:
Navios Maritime Partners L.P.
+1 (212) 906 8645
Investors@navios-mlp.com
Nicolas Bornozis
Capital Link, Inc.
+1 (212) 661 7566
naviospartners@capitallink.com
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