Navios Maritime Containers, the newly formed unit of Navios Maritime Partners, has agreed with investors to sell approximately 15m of its shares in a private placement to raise $75m.
Navios Maritime Containers intends to use the proceeds to acquire the 14 vessel container fleet, after Navios Maritime Partners recently agreed to purchase the entire fleet of liquidating Rickmers Maritime for $113m. It will also use funds for further vessel acquisitions, working capital and general corporate purposes. The offering is expected to close around June 1.
Navios Maritime Partners will invest $30m and receive 40% of the equity, while Navios Maritime Holdings will invest $5m and take a 6.67% stake of Navios Maritime Containers. Navios Partners and Navios Holdings will also receive warrants, with a five-year term, for 6.8% and 1.7% of the equity, respectively.
The Rickmers vessels are expected to be delivered starting from next week.
Navios Maritime Containers also intends to file an application to register on the Norwegian Over-The-Counter market (N-OTC) and it expects to be registered around June 1.