Navios Maritime Acquisition Corporation Announces Placement
of 25,974,026 Shares of Common Stock at $3.85 per Share
Monaco, 11 Sept 2013
The placement included a registered direct offering of 12,987,013 shares of common stock which will raise approximately $50.0 million of gross proceeds and a placement of 12,987,013 common shares to Navios Maritime Holdings Inc. ("Navios Holdings") which will raise approximately $50.0 million of gross proceeds. Both placements are expected to close on September 16, 2013.
Navios Acquisition expects to use the net proceeds of the placements for working capital and other general corporate purposes, including the repayment of outstanding indebtedness and/or the acquisition of vessels, although no such acquisitions are pending or have been identified.
Upon the closing of the placements contemplated herein, Navios Acquisition will have raised approximately $100.0 million in gross proceeds, and Navios Holdings will own approximately 48.5% of Navios Acquisition.
RS Platou Markets, Inc. is the sole lead manager in the registered direct offering. RS Platou Markets AS and S. Goldman Capital LLC are acting as lead placement agents in the registered direct offering. ABN AMRO Securities (USA) LLC, DVB Capital Markets LLC, Clarkson Capital Markets LLC and BNP Paribas Securities Corp. are acting as co-placement agents in the registered direct offering.
The Company's common shares trade on the New York Stock Exchange under the symbol "NNA."
About Navios Acquisition
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
For more information about Navios Acquisition, please visit our website: www.navios-acquisition.com.
Source: Navios Maritime Acquisition Corporation