Navios Maritime Holdings Inc Announces Exercise of Underwriters' Over-Allotment Option and Closing of Offering
31 May 2007 - 7:03AM
PR Newswire (US)
PIRAEUS, Greece, May 30 /PRNewswire-FirstCall/ -- Navios Maritime
Holdings Inc. ("Navios") (NYSE:NM), announced today that the
underwriters of its recent common share offering exercised the full
over-allotment option granted to them by Navios. As a result of the
exercise, Navios sold an additional 1,725,000 shares, bringing the
total to 13,225,000 shares sold, resulting in total net proceeds of
$124.8 million after deducting the underwriter discount and
estimated offering expenses. Concurrent with the exercise of the
over- allotment, Navios announced the closing of the share offering
originally announced on May 16, 2007. J.P. Morgan Securities Inc.
and Merrill Lynch & Co. acted as joint bookrunning managers of
the offering. S. Goldman Advisors LLC and Dahlman Rose &
Company acted as co-managers. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such
jurisdiction. The offering of these securities will be made only by
means of a prospectus and related prospectus supplement. When
available, copies of the prospectus and prospectus supplement
relating to the offering may be obtained from J.P. Morgan
Securities Inc. at National Statement Processing, Prospectus
Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245,
telephone: 718-242-8002 or Merrill Lynch & Co. at 4 World
Financial Center, New York, NY 10080, telephone: 212-449-1000.
About Navios Maritime Holdings Inc. Navios is a large, global,
vertically integrated seaborne shipping company transporting a wide
range of drybulk commodities including iron ore, coal and grain.
For over 50 years, Navios has worked with raw materials producers,
agricultural traders and exporters, industrial end-users, ship
owners, and charterers. Navios also owns and operates a
port/storage facility in Uruguay and has in-house technical ship
management expertise. Navios maintains offices in Piraeus, Greece;
South Norwalk, Connecticut; Montevideo, Uruguay and Antwerp,
Belgium. Navios's stock is listed on the NYSE where its Common
Shares and Warrants trade under the symbols "NM" and "NM WS",
respectively. Risks and uncertainties are described in reports
filed by Navios Maritime Holdings Inc. with the United States
Securities and Exchange Commission. Safe Harbor This press release
may contain forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 about Navios
Maritime Holdings Inc. (Navios). Forward looking statements are
statements that are not historical facts. Such forward looking
statements, based upon the current beliefs and expectations of
Navios' management, are subject to risks and uncertainties, which
could cause actual results to differ from the forward looking
statements. The information set forth herein should be read in
light of such risks. Navios does not assume any obligation to
update the information contained in this press release. Public
& Investor Relations Contact: Navios Maritime Holdings Inc.
Investor Relations +1.212.279.8820 DATASOURCE: Navios Maritime
Holdings Inc. CONTACT: Public & Investor Relations Contact -
Navios Maritime Holdings Inc., Investor Relations, +1-212-279-8820,
Copyright