Navios Maritime Containers Inc. (“NMCI”), a growth vehicle dedicated to the container sector, announced on Wednesday, September 5th, that it has commenced an initial public offering of 5,263,158 common units in the United States representing limited partner interests in Navios Maritime Containers L.P., the entity into which NMCI will convert in connection with the initial public offering (“Navios Containers”), pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Navios Containers has granted the underwriters for the initial public offering an option, exercisable over a 30-day period, to purchase up to 789,474 additional common units. The initial public offering price is currently expected to be between $18.00 and $20.00 per common unit. Navios Containers has applied to list its common units on the Nasdaq Global Select Market under the symbol “NMCI.”
Navios Containers intends to use the proceeds from the offering to partially finance the acquisition of one 2006-built 6,800 TEU containership from Navios Maritime Partners, L.P. and four 2011-built 10,000 TEU containerships from an unrelated third party. Although Navios Containers has entered into agreements to acquire these vessels, the agreements are subject to certain conditions, including the completion of the initial public offering, and there is no guarantee that it will acquire these vessels. In addition, it may be unable to secure debt financing for these acquisitions on satisfactory terms, or at all.
J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup and Clarksons Platou Securities, Inc. will act as joint book-running managers for the offering. The offering of the securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204; BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, tel: (800) 831-9146; and Clarksons Platou Securities, Inc., 280 Park Avenue, 21st floor, New York, New York 10017, tel (800) 417 1574.
A registration statement relating to the common units has been filed with the SEC but it has not yet become effective. The common units may not be sold nor may offers to buy the common units be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common units in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Navios Containers
Navios Containers is a growth vehicle dedicated to the container sector of the maritime industry.
Forward-Looking Statements
This press release may include forward-looking statements. These forward-looking statements involve
risks and uncertainties. When considering these forward-looking statements, you should keep in mind
the risk factors and other cautionary statements in Navios Containers’ prospectus and SEC filings.
Navios Containers undertakes no obligation and does not intend to update these forward-looking
statements to reflect events or circumstances occurring after this press release.
