Stock Update - (NYSE:NMM) Shares Down 9% on Stock Offering
Stock Update
Dallas, TX 11/19/2009 03:27 PM GMT (TransWorldNews)
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Navios Maritime Partners L.P. (NYSE:NMM) plunged 9.34% to $14.32 after it plans to offer 4,000,000 common units representing limited partnership interests in a public offering. Navios Partners expects to grant the underwriters a 30-day option to purchase an additional 600,000 common units to cover over-allotments, if any.
Navios Maritime Partners L.P. is an international owner of drybulk carriers newly formed by Navios Maritime Holdings Inc., an integrated seaborne shipping company. The Company is engaged in the seaborne transportation services of a wide range of drybulk commodities including iron ore, coal, grain and fertilizer, chartering its vessels under medium to long term charters.
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