Navios Partners Announces $100.0 Million Offering at $2.10 per Common Unit

Navios-NYSE

Navios Partners, an international owner and operator of container and dry bulk vessels, announced today that it has agreed with investors to sell approximately 47.6 million common units for an aggregate of $100.0 million in a registered direct offering at $2.10 per common unit.

The offering is expected to close on or about March 20, 2017. Navios Partners estimates that the net proceeds from the offering, after deducting estimated offering expenses and placement agent fees, are expected to be approximately $95.0 million. Navios Partners will use the net proceeds of the offering for general working capital purposes, including vessel acquisitions.

Navios Partners’ common units trade on the New York Stock Exchange under the symbol “NMM.”

Fearnley Securities Inc. acted as the sole lead manager.

S. Goldman Advisors LLC and Fearnley Securities AS acted as the lead placement agents in the registered direct offering. Fearnley Securities AS is not a U.S. registered broker-dealer and to the extent that this offering is made within the United States, its activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended.

A shelf registration statement relating to Navios Partners’ common units was previously filed by Navios Partners with the U.S. Securities and Exchange Commission (“SEC”) and has been declared effective.

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