Navios Maritime Partners L.P. announced Friday that it has priced its follow-on public offering of 2,800,000 common units.
Navios Maritime Partners L.P. announced Friday that it has priced its follow-on public offering of 2,800,000 common units, which represent limited partnership interests, at $12.21 per unit. Navios Partners has granted the underwriters a 30-day option to purchase up to an additional 420,000 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 September 23, 2009.
Navios Partners is an international owner and operator of Capesize and Panamax 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.
Navios Partners' common units trade on the New York Stock Exchange under the symbol "NMM."
The joint book running managers for this offering are Citi and J.P. Morgan and the co-managers are S. Goldman Advisors LLC, DVB Capital Markets and Cantor Fitzgerald & Co.