Navios Maritime Holdings Inc. Announces Results of the Tender Offer for Its Series G and Series H American Depositary Shares
October 24 2022 - 7:34AM
Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”)
(NYSE: NM), announced today the final results of its previously
announced tender offer (the “Offer”) to purchase up to $20 million
consisting of (i) up to 300,000 of the outstanding American
Depositary Shares (“Series G ADSs”), each representing 1/100th of a
Share of 8.75% Series G Cumulative Redeemable Perpetual Preferred
Stock (the “Series G Preferred”), and (ii) up to 1,000,000 of the
outstanding American Depositary Shares (“Series H ADSs”), each
representing 1/100th of a Share of 8.625% Series H Cumulative
Redeemable Perpetual Preferred Stock (the “Series H Preferred” and,
together with the Series G Preferred, the “Preferred Shares”).
The Offer expired at 12:00 midnight (the end of
the day), New York City time, on Friday, October 21, 2022. Based on
the final count by Citibank, N.A., the tender agent, a total of
20,185 Series G ADSs, representing approximately 3.8% of the
outstanding Series G ADSs, were properly tendered and not properly
withdrawn prior to the expiration of the Offer, and a total of
584,158 Series H ADSs, representing approximately 33% of the
outstanding Series H ADSs, were properly tendered and not properly
withdrawn prior to the expiration of the Offer.
The Company has accepted all of the of 20,185
Series G ADSs and 584,158 Series H ADSs tendered. The Company will
pay a total of approximately $317,510 in cash consideration for the
tendered Series G ADSs and $8,925,934 in cash consideration for the
tendered Series H ADSs. Delivery of the cash consideration for the
tendered Series G ADSs and/or Series H ADSs will be made
promptly.
Important Notices and Additional
Information
This press release is for informational purposes
only. This press release is not a recommendation to buy or sell any
of the Series G ADSs, Series H ADSs, the underlying Preferred
Shares or any other securities, and it is neither an offer to
purchase nor a solicitation of an offer to sell any of the Series G
ADSs, Series H ADSs, the underlying Preferred Shares or any other
securities. This press release shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful. In connection with the Offer, the
Company filed a Tender Offer Statement on Schedule TO, including
the Offer to Purchase and related documents, with the SEC. The
Offer was made solely by, and pursuant to the terms of, the Offer
to Purchase.
About Navios Maritime Holdings
Inc.
Navios Maritime Holdings Inc. (NYSE: NM) owns a
controlling equity stake in Navios South American Logistics Inc., a
leading infrastructure and logistics company in the Hidrovia region
of South America and a passive equity interest in Navios Maritime
Partners L.P., a leading, US publicly listed shipping company which
owns and operates dry cargo and tanker vessels. For more
information about Navios Holdings, please visit our
website: www.navios.com.
Cautionary Note Regarding
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 expectations
including with respect to the completion of the Offer. Although
Navios Holdings believes that the expectations reflected in such
forward-looking statements are reasonable at the time made, 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 Holdings. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Navios Holdings 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 Holdings’ expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based.
Contact:
Navios Maritime Holdings Inc. +1.345.232.3067
+1.212.906.8643 investors@navios.com
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