Navios Maritime Containers Inc. (NMCI) Announces Proposed 5.26M Share IPO

Navios Maritime Containers Inc. (NASDAQ: NMCI) announced today that it has commenced an initial public offering of 5,263,158 common units in the United States representing limited partner interests in Navios Maritime Containers L.P., the entity into which NMCI will convert in connection with the initial public offering (“Navios Containers”), pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Navios Containers has granted the underwriters for the initial public offering an option, exercisable over a 30-day period, to purchase up to 789,474 additional common units. The initial public offering price is currently expected to be between $18.00 and $20.00 per common unit. Navios Containers has applied to list its common units on the Nasdaq Global Select Market under the symbol “NMCI.”

Navios Containers intends to use the proceeds from the offering to partially finance the acquisition of one 2006-built 6,800 TEU containership from Navios Maritime Partners, L.P. and four 2011-built 10,000 TEU containerships from an unrelated third party. Although Navios Containers has entered into agreements to acquire these vessels, the agreements are subject to certain conditions, including the completion of the initial public offering, and there is no guarantee that it will acquire these vessels. In addition, it may be unable to secure debt financing for these acquisitions on satisfactory terms, or at all.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup and Clarksons Platou Securities, Inc. will act as joint book-running managers for the offering.

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