32,876,712 shares sold at $3.65 per share to finance working capital
By Devika Patel
Knoxville, Tenn., May 16 - Navios Maritime Acquisition Corp. said it plans a $60 million private placement of stock with Navios Maritime Holdings Inc. and a $60 million registered direct offering of stock.
The company will sell 16,438,356 common shares to Navios Maritime in the placement and 16,438,356 shares in the registered direct offering. The purchase price, of $3.65 per share, reflects a 5.69% discount to the $3.87 closing share price on May 15.
Settlement of both deals is expected May 21.
RS Platou Markets, Inc. is the lead manager in the registered direct offering. RS Platou Markets AS and S. Goldman Capital LLC are the placement agents in the registered direct offering. DVB Capital Markets LLC, BNP Paribas Securities Corp. and ABN AMRO Securities (USA) LLC are the co-placement agents in the registered direct offering.
Proceeds will be used for working capital and other general corporate purposes, including debt repayment.
Navios is a Piraeus, Greece-based owner and operator of tanker vessels that transport petroleum products and bulk liquid chemicals.
| Issuer: | Navios Maritime Acquisition Corp.
|
| Issue: | Common stock
|
| Amount: | $120 million
|
| Shares: | 32,876,712
|
| Price: | $3.65
|
| Warrants: | No
|
| Lead manager: | RS Platou Markets, Inc. (for $60 million)
|
| Placement agents: | RS Platou Markets AS and S. Goldman Capital LLC (for $60 million)
|
| Co-placement agents: | DVB Capital Markets LLC, BNP Paribas Securities Corp. and ABN AMRO Securities (USA) LLC (for $60 million)
|
| Investor: | Navios Maritime Holdings Inc. (for $60 million)
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Stock symbol: | NYSE: NNA
|
| Stock price: | $3.87 at close May 15
|
| Market capitalization: | $287.9 million
|
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