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As a result of the successful completion of the Warrant Program, Navios Maritime Holdings Inc. ("Navios Holdings") and Angeliki Frangou exercised 13,835,000 of the privately issued warrants (the "Private Warrants"). In addition, the remaining 90,000 Private Warrants have also been exercised, 75,000 of which were exercised on a cashless basis. As a result, the following corporate actions were completed: • $90,118 of gross cash proceeds were raised from the exercise of the Public Warrants; • $78,252,500 of gross cash proceeds were raised from the exercise of the Private Warrants; and • 18,412,053 new shares of common stock were issued. As of September 1, 2010, Navios Acquisition had outstanding 40,015,654 shares of common stock and 6,037,994 Public Warrants. No other warrants are outstanding, as all Private Warrants have been exercised. About Navios Maritime Acquisition Corporation Navios Acquisition 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: http://www.navios-acquisition.com. Source: Navios Maritime Acquisition Corporation |