Navios Maritime Partners L.P. Announces
Pricing of Follow-On Offering
Piraeus, Greece, February 3, 2010 - Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) announced today that it has priced its follow-on public offering of 3,500,000 common units, which represent limited partnership interests, at $15.51 per unit. Navios Partners has granted the underwriters a 30-day option to purchase up to an additional 525,000 common units to cover over-allotments, if any. Navios Partners expects to use the proceeds from the offering to fund its fleet expansion and/or for general partnership purposes. The offering is expected to close on February 8, 2010.
Navios Partners is an international owner and operator of dry cargo vessels formed by Navios Maritime Holdings Inc., a vertically-integrated seaborne shipping and logistics company with over 50 years of operating history in the dry bulk shipping industry.
The joint book running managers for this offering are Citi and J.P. Morgan and the co-managers are S. Goldman Capital LLC, DVB Capital Markets, Cantor Fitzgerald & Co., Lazard Capital Markets LLC and DnB NOR Markets.
When available, copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained from: Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 1-800-831-9146) or J.P. Morgan, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717 (tel: 1-866-803-9204).
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This offering may be made only by means of a prospectus supplement and accompanying base prospectus.
About Navios Maritime Partners L.P.
Navios Maritime Partners L.P. (NYSE: NMM), a publicly traded master limited partnership formed by Navios Maritime Holdings Inc. (NYSE: NM) is an owner and operator of dry cargo vessels.
Navios Maritime Partners L.P.