Navios Maritime Holdings Inc. Announces Pricing of American Depositary Shares
Representing Preferred Stock
MONACO -- (Marketwired) -- 06/30/14 -- Navios Maritime Holdings Inc.
("Navios Holdings" or the "Company") (NYSE: NM) announced today that
the offering of 4,200,000 American Depositary Shares, each of which
represents 1/100th of a share of the Company's Series H Cumulative
Redeemable Perpetual Preferred Stock, with a liquidation preference
of $2,500.00 per share ($25.00 per American Depositary Share), priced
at $25.00 per American Depositary Share. The gross proceeds from the
offering before the underwriting discount and other offering expenses
are expected to be $105 million. The Company has also granted the
underwriters a 30-day option to purchase up to an additional 630,000
American Depositary Shares. Dividends will be payable on the Series H
Cumulative Redeemable Perpetual Preferred Stock at a rate of 8.625%
per annum of the stated liquidation preference. The Company has
applied to have the American Depositary Shares listed on the New York
Stock Exchange under the symbol "NMPrH."
The net proceeds of the offering will be used for general corporate
purposes, including acquisition of vessels.
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC,
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are
acting as joint-bookrunning managers of the offering, which will be
made under an effective shelf registration statement. S. Goldman
Capital LLC is acting as sole co-manager.
The offering is expected to close on or about July 8, 2014.
The offering is being made only by means of a prospectus supplement
and accompanying base prospectus. A preliminary prospectus supplement
and accompanying base prospectus relating the offering have been
filed with the Securities and Exchange Commission ("SEC") and are
available on the SEC's website at http://www.sec.gov. When available,
the final prospectus supplement and accompanying prospectus may be
obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, NY 10014; or from Credit Suisse Securities (USA)
LLC, One Madison Avenue, New York, NY 10010, Attn: Prospectus
Department, email: email@example.com, telephone:
1-800-221-1037; or from Deutsche Bank Securities Inc., Attention:
Prospectus Department, 60 Wall Street, New York, New York 10005-2836
(tel: 800-503-4611), or by e-mail at firstname.lastname@example.org; or from
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179,
Attn: Investment Grade Syndicate Desk, call collect: 212-834-4533.
This release does not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of these
securities 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
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc.
(NYSE: NM) is a global, vertically integrated seaborne shipping and
logistics company focused on the transport and transshipment of
drybulk commodities including iron ore, coal and grain.
This press release contains
forward-looking statements (as defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended) concerning future events and Navios
Holdings' subsidiaries. Words such as "expects," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations of
such words and similar expressions are intended to identify
forward-looking statements. Such statements include comments
regarding completion of the offering. Although Navios Holdings
believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. These statements
involve known and unknown risks and are based upon a number of
assumptions and estimates which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control
of Navios Holdings, including market conditions. Actual results may
differ materially from those expressed or implied by such
forward-looking statements. Navios Holdings expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in Navios Holdings' expectations with respect
thereto or any change in events, conditions or circumstances on which
any statement is based.
Navios Maritime Holdings Inc.
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