Navios Containers Raising USD 30 Mn for More Ships

Image Courtesy: Pixabay

Monaco-based container shipping company Navios Maritime Containers has completed a USD 30 million private placement to finance possible vessel acquisitions.

The company will issue 5,450,000 common shares at a subscription price of USD 5.50 per common share. The net proceeds from the private placement, which is expected to close on March 13, 2018, will be used for general corporate purposes, including vessel acquisitions.

Navios Holdings and Navios Partners have subscribed for USD 15 million in the private placement and thus will own approximately 39% of the outstanding share capital upon closing.

Each of Navios Holdings and Navios Partners will also receive warrants, with a five-year term, for 1.7% and 6.8% of the newly issued equity, respectively. The offer shares will be tradable on N-OTC on or about March 14, 2018.

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