Navios Maritime Holdings Inc. Announces Increase in Consideration and Extension of Time Under Exchange Offer for Series G ADSs and Series H ADSs
Navios Maritime Holdings Inc. (NM)
Last navios maritime holdings inc. earnings: 5/28 07:30 am
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US:NYSE Investor Relations:
navios.com/events/default.asp
Company Research
Source: GlobeNewswire
MONACO, March 04, 2019 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”) today announced that, as of March 1, 2019, there were 705,391 Series G ADSs and 1,062,573 Series H ADSs validly tendered for cash and/or Notes in the Company’s previously announced exchange offer and consent solicitation (the “Exchange Offer”). The Company also announced that it (i) increased the exchange consideration by $.50 per Series G ADS and Series H ADS, (ii) extended the expiration date of the Exchange Offer through 11:59 pm on Friday, March 15, 2019 (“Extended Expiration Date”) and (iii) is no longer soliciting consents from holders of the Series H ADSs. The Company seeks to exchange cash and/or newly issued 9.75% Senior Notes due 2024 (the “Notes”) for up to approximately 66 2/3% of both classes of outstanding American Depositary Shares representing the 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock (the “Series G ADSs”) and the 8.625% Series
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