Navios Partners announced that it has agreed with investors to sell approximately 18.4 million common units for an aggregate of approximately $35.0 million in a registered direct offering at $1.90 per common unit, which includes the sale of approximately $5 million of common units to Navios Maritime Holdings Inc.
The offering is expected to close on or about February 21, 2018.
Navios Partners estimates that the net proceeds from the offering, after deducting estimated offering expenses and placement agent fees, will be approximately $33.3 million.
Navios Partners expects to use the net proceeds from the registered direct offering for general working capital purposes, including vessel acquisitions.
Navios Partners’ common units trade on the New York Stock Exchange under the symbol “NMM.”