Share this article above
(NEW YORK)–Navios Maritime Containers files with the SEC to raise $100 million in an initial public offering.
Navios Maritime Containers disclosed in a new SEC filing Friday that they plan to raise $100 million in an IPO, which which is indicated to traded under the symbol “NMCI”.
The Monte Carlo, Monaco-based company was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. The company plans to use the proceeds raised in the IPO to acquire up to five additional containerships.
“We generate our revenues by chartering our vessels to leading liner companies pursuant to fixed-rate time charters. Under the terms of our charters, we provide crewing and technical management, while the charterer is generally responsible for securing cargoes, fuel costs and voyage expenses. After giving effect to the acquisition of five containerships that we intend to acquire with the proceeds from this offering, and including the two containerships of which we took delivery on July 2, 2018, we will have grown our fleet to 30 vessels with an aggregate carrying capacity of 166,338 TEU and an average fleet age of 9.8 years. Additionally, we have options to acquire four additional containerships, which would expand our fleet further.”
The lead runners behind this offering are JPMorgan, Bank of America Merrill Lynch, Citigroup, Clarksons Platou Securities and S. Goldman Advisors LLC.
IPO Investor Newsletter
Looking for new IPO opportunities? Join Ludlow Research investor mailing list to get updates on new IPO’s, and research alerts on private equity deals. https://ludlowresearch.com/investors
This is NOT a solicitation to Buy or Sell any security, but rather is for informational purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Wall Street Newscast (“WSNC”) does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. WSNC, its affiliates, or directors, may or may not hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when reviewing this information. In Compliance with SEC Rule 17B Wall Street Newscast was not compensated for this media alert. These investments may involve a high degree of risk, thus investors are highly encouraged to consult with a financial advisor before any and all investments.
Safe Harbor Statements:
This website includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Small and Micro cap stocks involve a high degree of risk, and we highly encourage investors to consult with a financial advisor before making any and all investment decisions when investing in these type of securities.
- Orbsat (OSAT) Potential for Global IoT Data Provider Through Satellite Network - November 20, 2019
- Alpine 4 (ALPP) Stock Pulls Back After Major Run in Share Price - November 6, 2019
- GTX Corp (GTXO) Stock Offers Upside Valuation Potential as Wearable IoT Play - October 31, 2019
- Cannabis Stocks get Upgrade at Oversold Levels - October 10, 2019
- FDA Guidance on CBD Infused Products May Signal Bottom for Stock Sector - August 17, 2019
- Vectorspace AI (VXV) and ESTC Discuss Visualizing Alpha Utilizing Datasets and Canvas - August 8, 2019
- Vectorspace (VXV) Crypto Coin Big Uses for Quant Hedge Funds - July 1, 2019
- BioHemp (BKIT) Added to Watch List as CBD Distribution Play - June 28, 2019
- Hammer Fiber (HMMR) Moves Towards Profit in Earnings Report - June 27, 2019
- Maybe It’s Time to Automate Politicians to History Bin Using AI - April 21, 2019