And After the Market Closed

Navios Maritime Partners announced that it plans to offer another 4.5 million common units in a public offering, with a green shoe of a further 675 thousand units. Proceeds will be used for fleet expansion or general partnership purposes. This is Partners’ second offering of the year. The first raised $54 million back in February. The shares closed down $0.59 (3.04%) at $18.83 and fell a further $1.03 (5.5%) to $17.80 in after hours trading. At today’s closing price, gross proceeds would be approximately $85 million. We will cover this story as it evolves next week.

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