Navios Maritime Partners (NMM) Prices 4M Common Unit Offering at $14.90/Unit
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Navios Maritime Partners L.P. (NYSE: NMM) announced today that it has priced its follow-on public offering of 4,000,000 common units, which represent limited partnership interests, at $14.90 per unit. Navios Partners has granted the underwriters a 30-day option to purchase up to an additional 600,000 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 November 24, 2009.
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.
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.
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