Navios Maritime Holdings Inc. Announces Public Offering 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 the
offering of American Depositary Shares, each of which represents
1/100th of the Company's Series H Cumulative Redeemable Perpetual
Preferred Stock, par value $0.0001 per share, with a liquidation
preference of $2,500.00 per share (equivalent to $25.00 per American
Depositary Share), to the public. In connection with the offering,
the Company intends to grant the underwriters a 30-day option to
purchase additional American Depositary Shares. The American
Depositary Shares have been approved for listing on the New York
Stock Exchange under the symbol "NMPrH," subject to official notice
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 being made only by means of a prospectus supplement
and accompanying base prospectus. When available, the 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
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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