Navios Maritime Acquisition Corporation announces placement of 32,876,712 shares
Navios Maritime Acquisition Corporation announced today the placement of a total of 32,876,712 shares of its common stock, at a price of $3.65 per share, representing gross proceeds of approximately $120.0 million, said in the company's press release.
The placement included a registered direct offering of 16,438,356 shares of common stock which will raise approximately $60.0 million of gross proceeds and a placement of 16,438,356 common shares to Navios Maritime Holdings Inc. ("Navios Holdings") which will raise approximately $60.0 million of gross proceeds. Both placements are expected to close on May 21, 2013.
Navios Acquisition expects to use the net proceeds of the placements for working capital and other general corporate purposes, including the repayment of outstanding indebtedness.
Upon the closing of the placements contemplated herein, Navios Acquisition will have raised approximately $120.0 million in gross proceeds, and Navios Holdings will own approximately 48.2% of Navios Acquisition.
RS Platou Markets, Inc. is the sole lead manager in the registered direct offering. RS Platou Markets AS and S. Goldman Capital LLC are acting as placement agents in the registered direct offering. DVB Capital Markets LLC, BNP Paribas Securities Corp. and ABN AMRO Securities (USA) LLC are acting as co-placement agents in the registered direct offering.
