Navios Maritime Containers Inc. Announces Closing of $50.0 Million Private Placement
November 09 2017 - 9:24AM
Navios Maritime Containers Inc. (“Navios Containers”) (N-OTC:NMCI),
a growth vehicle dedicated to the container sector, announced today
that it has closed the private placement of common shares as
announced on November 7, 2017.
Navios Containers issued 9,090,909 common shares
for an aggregate of $50.0 million of gross proceeds at a
subscription price of $5.50 per common share. Navios Containers
intends to use the net proceeds to partially finance the
acquisition of four 2008-built baby Panamax containerships for an
agreed price of $96.8 million and for general working capital.
Navios Maritime Partners L.P. (“Navios
Partners”) invested $10.0 million in the private placement and
currently owns approximately 34% of the outstanding share capital.
Each of Navios Partners and Navios Maritime Holdings Inc. also
received warrants, with a five-year term, for 6.8% and 1.7% of the
newly issued equity, respectively. The offer shares will be
tradable on N-OTC today, November 9, 2017.
Clarksons Platou Securities AS and Fearnley
Securities AS acted as Lead Managers and Bookrunners in the Private
Placement, and S. Goldman Advisors LLC acted as Structuring
Advisor.
About Navios Maritime Containers
Inc.
Navios Maritime Containers Inc. is a growth
vehicle dedicated to the container sector of the maritime industry.
For more information, please visit our website at
www.navios-containers.com.
Forward-Looking Statements
This press release contains forward-looking
statements concerning future events; future 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 are based on the information available
to, and the expectations and assumptions deemed reasonable by
Navios Containers at the time these statements were made. Although
Navios Containers 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 Containers. 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, the quality of the
Fleet and the market for the Fleet vessels, and changes in the
availability and costs of funding due to conditions in the bank
market, capital markets and other factors, as well as general
domestic and international political conditions. Navios Containers
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Navios Containers’
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based. Navios
Containers makes no prediction or statement about the performance
of its common shares.
Contact
Public & Investor Relations Contact: Navios Maritime
Containers, Inc. +1.212.906.8648
Investors@navios-containers.com
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