MONACO -- (Marketwired) -- 11/18/14 --
Navios Maritime Midstream Partners L.P. (NYSE: NAP) ("Navios Midstream"), a recently formed subsidiary of Navios Maritime Acquisition Corporation (NYSE: NNA) ("Navios Acquisition") and owner and operator of tanker vessels, announced today that it has closed its initial public offering of 8,100,000 common units representing approximately 42.5% of the limited partner interest in Navios Midstream at a price of $15.00 per unit. Navios Midstream has granted the underwriters a 30-day option to purchase up to an additional 1,215,000 common units. Following the closing of the initial public offering, Navios Acquisition owns approximately 55.5% of the limited partner interest and the 2.0% general partner interest in Navios Midstream. The common units began trading on November 13, 2014, on the New York Stock Exchange under the symbol "NAP."
BofA Merrill Lynch, Citigroup and J.P. Morgan acted as joint book-running managers and representatives of the underwriters for the offering. The offering of the securities was made only by means of a prospectus. Copies of the final prospectus can be obtained from: BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, (by email email@example.com), Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (tel: (800) 831-9146) and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: 631-254-1735.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). The registration statement is available on the SEC's website at www.sec.gov under Navios Midstream's name. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common units, nor shall there be any sale of the common units in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Navios Maritime Midstream Partners L.P.
Navios Maritime Midstream Partners L.P. is a Marshall Islands limited partnership recently formed by Navios Acquisition to own, operate and acquire crude oil tankers, refined petroleum product tankers, chemical tankers and liquefied petroleum gas tankers under long-term employment contracts.
About Navios Maritime Acquisition Corporation
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
This press release may include forward-looking statements. These forward-looking statements involve risks and uncertainties. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Navios Midstream's prospectus and SEC filings. Navios Midstream undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.
Investor Relations Contact
Navios Maritime Midstream Partners L.P.
Source: Navios Maritime Acquisition Corporation