Navios Partners Raising Funds for Vessel Acquisitions

Image Courtesy: Navios

Greek ship owner and operator Navios Maritime Partners is selling common units to raise USD 35 million for general working capital purposes, including vessel acquisitions.

The company has agreed with investors to sell some 18.4 million common units for in a registered direct offering at USD 1.90 per common unit.

Navios Partners informed that this includes the sale of around USD 5 million of common units to Navios Maritime Holdings Inc.

The company estimates that the net proceeds from the offering will be about USD 33.3 million after deducting estimated offering expenses and placement agent fees.

The public offering is expected to close on or about February 21.

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