By Devika Patel
Knoxville, Tenn., Feb. 25 - Navios Maritime Holdings Inc. sold a $33.5 million 2% convertible senior promissory note on Feb. 18, according to a 6-K filed Wednesday with the Securities and Exchange Commission.
The note will mature on Feb. 18, 2012. It is convertible into common shares at an initial conversion price of $11.00 per share, subject to adjustment.
The minimum amount that may be converted at any time is $5 million.
Navios Maritime is maritime shipping company with headquarters in Piraeus, Greece.
| Issuer: | Navios Maritime Holdings Inc.
|
| Issue: | Convertible senior promissory note
|
| Amount: | $33.5 million
|
| Maturity: | Feb. 18, 2012
|
| Coupon: | 2%
|
| Price: | Par
|
| Yield: | 2%
|
| Conversion price: | $11.00
|
| Warrants: | No
|
| Settlement date: | Feb. 18
|
| Stock symbol: | NYSE: NM
|
| Stock pr ice: | $3.10 at close Feb. 18
|
| Market capitalization: | $241 million
|
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