Navios Maritime Partners L.P. Announces Pricing of Follow-On Offering
PIRAEUS, GREECE--(Marketwire - February 3, 2010) - Navios Maritime Partners L.P. ("Navios
Partners") (NYSE: NMM) announced today that it has priced its follow-on
public offering of 3,500,000 common units, which represent limited
partnership interests, at $15.51 per unit. Navios Partners has granted the
underwriters a 30-day option to purchase up to an additional 525,000 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 February 8,
2010.
Navios Partners is an international owner and operator of dry cargo 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 Capital LLC, DVB Capital Markets, Cantor
Fitzgerald & Co., Lazard Capital Markets LLC and DnB NOR Markets.
When available, copies of the prospectus supplement and accompanying base
prospectus related to this offering may be obtained from: Citi, Brooklyn
Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 1-800-831-9146) or J.P. Morgan, Attn: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York, 11717 (tel: 1-866-803-9204).
This news release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. This
offering may be made only by means of a prospectus supplement and
accompanying base prospectus.
ABOUT NAVIOS MARITIME PARTNERS L.P.
Navios Maritime Partners L.P. (NYSE: NMM), a publicly traded master limited
partnership formed by Navios Maritime Holdings Inc. (NYSE: NM), is an owner
and operator of dry cargo vessels.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future events
and Navios Partners' growth strategy and measures to implement such
strategy; including expected vessel acquisitions and entering into further
time charters. Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and variations of such words and
similar expressions are intended to identify forward-looking statements.
Such statements include comments regarding expected revenue and time
charters. Although Navios Partners believes that the expectations reflected
in such forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a number of
assumptions and estimates which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control of
Navios Partners. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could cause
actual results to differ materially include, but are not limited to changes
in the demand for dry bulk vessels, competitive factors in the market in
which Navios Partners operates; risks associated with operations outside
the United States; and other factors listed from time to time in the Navios
Partners' filings with the Securities and Exchange Commission. Navios
Partners expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Navios Partners' expectations
with respect thereto or any change in events, conditions or circumstances
on which any statement is based.
Contact Information:
Contacts
Public & Investor Relations Contact:
Navios Maritime Partners L.P.
Nicolas Bornozis
Capital Link, Inc.
Tel. (212) 661-7566
E-mail: naviospartners@capitallink.com