Navios Maritime Holdings Inc. Announces Exercise of Underwriters' Over-Allotment Option and Closing of Offering
5/30/2007
Our Client Maritime Holdings Inc. recently completed the following transaction:
PIRAEUS, Greece, May 30, 2007/PRNewswire-FirstCall via COMTEX News Network/ -- Navios Maritime Holdings Inc. ("Navios") (NYSE: NM), announced today that the underwriters of its recent common share offering exercised the full over-allotment option granted to them by Navios. As a result of the exercise, Navios sold an additional 1,725,000 shares, bringing the total to 13,225,000 shares sold, resulting in total net proceeds of $124.8 million after deducting the underwriter discount and estimated offering expenses. Concurrent with the exercise of the over-allotment, Navios announced the closing of the share offering originally announced on May 16, 2007.
