Contact Information: Contacts Public & Investor Relations Contact: Navios Maritime Partners L.P. Nicolas Bornozis Capital Link, Inc. Tel. (212) 661-7566 E-mail: naviospartners@capitallink.com
Navios Maritime Partners L.P. Announces Completion of Exercise of Over-Allotment Option
| Source: Navios Maritime Partners L.P.
PIRAEUS, GREECE--(Marketwire - October 19, 2009) - Navios Maritime Partners L.P. ("Navios
Partners") (NYSE : NMM ) announced the completion of the exercise of a
portion of the underwriters' over-allotment option granted in connection
with its recently completed public offering. The over-allotment option was
exercised for 360,400 common units at $12.21 per unit, raising gross
proceeds of approximately $4.4 million.
The gross proceeds of the common unit offering and the over-allotment
option total approximately $38.6 million. The joint book-running managers
for the offering were Citi and J.P. Morgan, and the co-managers were S.
Goldman Advisors LLC, DVB Capital Markets and Cantor Fitzgerald & Co.
Copies of the prospectus supplement and accompanying base prospectus
related to this offering may be obtained from: Citi, Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (
tel: 1-800-831-9146) or J.P. Morgan, Attention: Prospectus Department, J.P.
Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY
11425, Attention: Prospectus Library,
(tel: 1-718-242-8002).
This news release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. This
offering may be made only by means of a prospectus supplement and
accompanying base prospectus.
ABOUT NAVIOS MARITIME PARTNERS L.P.
Navios Maritime Partners L.P. (NYSE : NMM ), a publicly traded master limited
partnership formed by Navios Maritime Holdings Inc. (NYSE : NM ) is an owner
and operator of Capesize and Panamax vessels.
Forward-Looking Statements
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 Partners' growth strategy and measures to implement such
strategy; including expected vessel acquisitions and entering into further
time charters. 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 expected revenue and time
charters. Although Navios Partners 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 Partners. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could cause
actual results to differ materially include, but are not limited to changes
in the demand for dry bulk vessels, competitive factors in the market in
which Navios Partners operates; risks associated with operations outside
the United States; and other factors listed from time to time in the Navios
Partners' filings with the Securities and Exchange Commission. Navios
Partners 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 Partners' expectations
with respect thereto or any change in events, conditions or circumstances
on which any statement is based.