Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, March 23, 10:17 PM

This Slide: #486 of 637

Slide #486. Navios Maritime Holdings Inc. — Preferred Stock Offering

Company:	Navios Maritime Holdings Inc. (NM)
Date announced:	1/21/2014
Security type:	Series G Cumulative Redeemable Perpetual Preferred Stock (NM.PRG)
Shares Offered:	2,000,000
Date of Pricing:	1/21/2014
Price Per Share:	$25
Preferred Stock Offering Details:	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 G 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 "NMPrG," subject to official notice of issuance. - updated 1/21 - Navios Maritime Holdings Inc. ("Navios Holdings" or the "Company") (NYSE: NM) announced today that the offering of 2,000,000 American Depositary Shares, each of which represents 1/100th of a share of the Company's Series G 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 $50 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 300,000 American Depositary Shares. Dividends will be payable on the Series G Cumulative Redeemable Perpetual Preferred Stock at a rate of 8.75% per annum of the stated liquidation preference. The American Depositary Shares have been approved for listing on the New York Stock Exchange under the symbol "NMPrG," subject to official notice of issuance.

Navios Maritime Holdings is a holding company. Through its subsidiaries, Co. operates a fleet of owned and bareboat-in Capesize, Panamax, Ultra Handymax and Handysize vessels and a fleet of time chartered Capesize, Panamax, Ultra Handymax and Handysize vessels that are employed to provide transportation of bulk commodities. Co. is a seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain. Co.'s subsidiary, Navios South American Logistics Inc., an infrastructure and logistics company in the Hidrovia Region of South America, operates on the cabotage trades along the south-eastern coast of South America.

Preferreds: NM.PRG, NM.PRH