Navios Maritime Holdings increases stake in company to 48.5%
By Angela McDaniels
Tacoma, Wash., Sept. 11 - Navios Maritime Acquisition Corp. sold 25,974,026 shares of its common stock for $3.85 each, raising $100 million. Half of the shares were sold in a registered direct offering, and the other half were placed with Navios Maritime Holdings Inc.
The price per share is a 7.5% discount to the company's $4.16 closing share price on Sept. 10.
RS Platou Markets, Inc. is the lead manager in the registered direct offering, and RS Platou Markets AS and S. Goldman Capital LLC are the lead placement agents, according to a company news release.
Once the placements close on Sept. 16, Navios Maritime Holdings will have a 48.5% stake in Navios Maritime Acquisition.
Proceeds will be used for working capital and other general corporate purposes, including the repayment of outstanding debt and/or the acquisition of vessels, although no acquisitions are pending or have been identified.
Navios is based in Piraeus, Greece. It owns and operates tanker vessels that transport petroleum products and bulk liquid chemicals.
| Issuer: | Navios Maritime Acquisition Corp.
|
| Issue: | Common stock
|
| Amount: | $100 million
|
| Shares: | 25,974,026
|
| Price: | $3.85
|
| Warrants: | No
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 16
|
| Stock symbol: | NYSE: NNA
|
| Stock price: | $4.16 at close Sept. 10
|
| Market capitalization: | $434.02 million
|
|
|
| Registered direct offering
|
| Amount: | $50 million
|
| Shares: | 12,987,013
|
| Lead manager: | RS Platou Markets, Inc.
|
| Lead agents: | RS Platou Markets AS and S. Goldman Capital LLC
|
| Co-agents: | ABN Amro Securities (USA) LLC, DVB Capital Markets LLC, Clarkson Capital Markets LLC and BNP Paribas Securities Corp.
|
|
|
| Private placement
|
| Amount: | $50 million
|
| Shares: | 12,987,013
|
| Investor: | Navios Maritime Holdings Inc.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
