Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has already completed a private placement of common shares, totaling $30.0 million, which is expected to close on March 13, 2018.
Navios Containers will issue approximately 5,450,000 common shares at a subscription price of $5.50 per common share for an aggregate of $30.0 million of gross proceeds. The net proceeds will be used for general corporate purposes, including vessel acquisitions.
Navios Maritime Holdings and Navios Maritime Partners have
subscribed for $15.0 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.
Fearnley Securities AS acted as Sole Manager and Bookrunner in the Private Placement, and S. Goldman Advisors LLC acted as Structuring Advisor.