Navios Maritime Partners has agreed with investors to sell around 47.6 million common units in the master limited partnership for $100 million in a registered direct offering.
Navios Partners said that the offering, at $2.10 per common unit, is expected to close on or about March 20. Fearnley Securities is the sole lead manager.
The offering will provide Navios Partners with around $95 million in net proceeds, which it says will be used for general working capital purposes, including vessel acquisitions.
Navios Partners currently has a fleet of 31 vessels, made up of 24 dry bulk vessels and seven containerships.