Holdings Inc., announced that the underwriters of its recent common share offering exercised the full over-allotment
option granted to them by Navios. As a result of the exercise, Navios sold
an additional 1,725,000 shares, bringing the total to 13,225,000 shares
sold, resulting in total net proceeds of $124.8 million after deducting the
underwriter discount and estimated offering expenses. Concurrent with the
exercise of the over- allotment, Navios announced the closing of the share
offering originally announced on May 16, 2007.
J.P. Morgan Securities Inc.
and Merrill Lynch & Co.
acted as joint
bookrunning managers of the offering. S. Goldman Advisors LLC and Dahlman
Rose & Company acted as co-managers.