Navios Maritime Containers Inc. Announces $75.0 Million Private Placement and Application for Admission to Trading to Norw...
12 May 2017 - 6:01AM
Navios Maritime Containers Inc. (“Navios Containers”), a newly
formed Marshall Islands company, announced today that it has agreed
with investors to sell approximately 15 million of its shares for
an aggregate of approximately $75 million of gross proceeds at a
subscription price of $5.00 per share. Navios Containers intends to
use the proceeds to acquire the 14-vessel container fleet (the
“Fleet”) that Navios Maritime Partners L.P. (“Navios Partners”)
previously agreed to purchase from Rickmers Maritime (the “Trust”)
as well as for further vessel acquisitions, working capital and
general corporate purposes. The offering is expected to close
in full on or about June 1, 2017.
Navios Partners will invest $30 million and
receive 40% of the equity, and Navios Maritime Holdings Inc.
(“Navios Holdings”) will invest $5 million and receive 6.67% of the
equity of Navios Containers. Each of Navios Partners and
Navios Holdings will also receive warrants, with a five-year term,
for 6.8% and 1.7% of the equity, respectively.
The Fleet vessels are expected to be delivered
starting the week of May 15, 2017. The acquisition is subject to a
number of conditions, and no assurance can be provided that the
acquisition will close at all or in part.
Navios Containers also announced today that it
intends to file an application to register on the Norwegian
Over-The-Counter market (N-OTC). Navios Containers expects to
be registered on or about June 1, 2017.
Fearnley Securities acted as the sole lead
manager. S. Goldman Advisors LLC acted as structuring advisor and
US placement agent.
About Navios Maritime Containers
Inc.
Navios Maritime Containers Inc. 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
This press release contains forward-looking
statements concerning future events including the closing of the
offering, the registration of Navios Containers on the Norwegian
Over-The-Counter market, the closing of the acquisition of the
Fleet, the transfer of the Fleet and the benefits of the
acquisition of the Fleet; including expected vessel acquisitions
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 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 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 the
completion of the Fleet acquisition on the anticipated timing or at
all, the quality of the Fleet and the market for the Fleet vessels,
and changes in the availability and costs of funding due to
conditions in the bank market, capital markets and other factors,
as well as general domestic and international political conditions.
Navios Containers expressly disclaims any obligation 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.
Contact
Public & Investor Relations Contact:
Navios Maritime Containers, Inc.
+1.212.906.8648
Investors@navios-containers.com
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