Navios Maritime Partners L.P. Completes Previously Announced Reverse Split
May 20 2019 - 5:37PM
Navios Maritime Partners L.P. (“Navios Partners” or the “Company”)
(NYSE: NMM), an international owner and operator of dry cargo
vessels, announced that the previously disclosed one-for-fifteen
reverse split of its common units is completed, effective before
the market opens on May 21, 2019.
Based on approximately 164.7 million common
units currently issued and outstanding, following the reverse
split, the Company expects it will have approximately 11.0 million
common units issued and outstanding.
About Navios Maritime Partners
L.P. Navios Partners (NYSE: NMM) is a publicly traded
master limited partnership which owns and operates dry cargo
vessels. For more information, please visit our website at
www.navios-mlp.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 including Navios
Partners’ expected cash flow generation, future contracted
revenues, future distributions and its ability to have a dividend
going forward, opportunities to reinvest cash accretively in a
fleet renewal program or otherwise, potential capital gains, our
ability to take advantage of dislocation in the market 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. Such statements include comments
regarding expected revenue and time charters. Such statements
include comments regarding expected timing, implementation, and
impact of the reverse stock split, as well as the Company’s ability
to comply with the NYSE’s continued listing requirements. 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, UltraHandymax 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, 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 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.
Public & 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