Navios Maritime Containers L.P. Regains Compliance Regarding Nasdaq Minimum Bid Price Deficiency
17 October 2020 - 12:21AM
Navios Maritime Containers L.P. (the “Company”) (NASDAQ: NMCI), a
growth vehicle dedicated to the container sector of the maritime
industry, today announced that, based upon a notice received on
October 15, 2020 from The Nasdaq Stock Market (“Nasdaq”), the
Company is once again in compliance with Nasdaq’s Listing Rules
requirement of maintaining a minimum closing price of $1.00 per
share.
About Navios Maritime Containers
L.P.
The Company, Navios Maritime Containers L.P.
(Nasdaq: NMCI), is a growth vehicle dedicated to the container
sector of the maritime industry. For more information, please visit
our website at www.navios-containers.com.
Forward Looking Statements - Safe Harbor
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, including future
contracted revenues and rates, EBITDA, future available days,
future financial performance of the fleet, timing of vessel
deliveries, vessel acquisitions, financing activities, and Navios
Containers' growth strategy and measures to implement such
strategy, including future vessel acquisitions and the ability to
secure or refinance related financing, the further growth of our
containership fleet, and entering into further time charters. Words
such as “may,” “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates,” and variations of such words
and similar expressions are intended to identify forward-looking
statements. These forward-looking statements are based on the
information available to, and the expectations and assumptions
deemed reasonable by Navios Containers at the time these statements
were made. Although Navios Containers 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 risks and are
based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Navios Containers. 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, risks
relating to: global and regional economic and political conditions
including the impact of the COVID-19 pandemic and efforts
throughout the world to contain its spread, including effects on
global economic activity, demand for seaborne transportation of the
products we ship, the ability and willingness of charterers to
fulfill their obligations to us and prevailing charter rates,
shipyards performing scrubber installations, drydocking and
repairs, changing vessel crews and availability of financing;
potential disruption of shipping routes due to accidents, diseases,
pandemics, political events, piracy or acts by terrorists,
including the impact of the COVID-19 pandemic and the ongoing
efforts throughout the world to contain it; the favorable timing
for acquisitions and chartering opportunities in the container
shipping sector and Navios Containers’ ability to take advantage of
such opportunities; the value of container shipping vessels; Navios
Containers’ ability to identify container shipping vessels for
acquisition at attractive prices, if at all, including the
availability of distressed acquisition opportunities in the
container shipping industry; Navios Containers’ ability to execute
on a low-cost operating structure; Navios Containers’ ability to
achieve a return on investment for and to pay cash distributions to
our unitholders or make common unit repurchases from our
unitholders; any advantages resulting from Navios Containers’
strategic focus on intermediate-size containerships; Navios
Containers’ ability to leverage the scale, experience, reputation
and relationships of the Navios Group, consisting of Navios
Maritime Holdings Inc., Navios Maritime Acquisition Corporation,
Navios Maritime Partners L.P., and any one or more of their
subsidiaries and affiliates. Navios Containers’ future financial
condition or results of operations and its future revenues and
expenses, including its estimated adjusted cash flow; the loss of
any customer or charter or vessel; the aging of Navios Containers’
vessels and resultant increases in operation and drydocking costs;
Navios Containers’ ability to maintain long-term relationships with
major liner companies; Navios Containers’ ability to access debt,
credit and equity markets; potential liability from litigation and
our vessel operations, including discharge of pollutants; Navios
Containers’ and the Navios Group’s performance in safety,
environmental and regulatory matters; increases in costs and
expenses, including but not limited to, crew wages, insurance,
technical maintenance costs, spares, stores and supplies, charter
brokerage commissions on gross voyage revenues and general and
administrative expenses; the changes to the regulatory requirements
applicable to the shipping and container transportation industry,
including, without limitation, stricter requirements adopted by
international organizations, such as the International Maritime
Organization and the European Union, or by individual countries or
charterers and actions taken by regulatory authorities and
governing such areas as safety and environmental compliance; the
anticipated taxation of Navios Containers and its unitholders; and
the effects of increasing emphasis on environmental and safety
concerns by customers, governments and others, as well as changes
in maritime regulations and standards. Navios Containers 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 Containers' expectations
with respect thereto or any change in events, conditions or
circumstances on which any statement is based. Navios Containers
makes no prediction or statement about the performance of its
common units.
Public & Investor Relations
Contacts:Navios Maritime Containers
L.P.+1.212.906.8648Investors@navios-containers.com
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