Navios Maritime Midstream Partners L.P. Announces Launch of Initial Public Offering

Navios Maritime Midstream Partners L.P. (“Navios Midstream”), a recently formed wholly-owned subsidiary of Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE: NNA), an owner and operator of tanker vessels, announced today that it has commenced an initial public offering of 8,100,000

common units representing limited partner interests in Navios Midstream pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Navios Midstream expects to grant the underwriters a 30-day option to purchase up to an additional 1,215,000 common units. The initial public offering price is currently expected to be between $19.00 and $21.00 per common unit. The common units have been cleared for listing on the New York Stock Exchange under the symbol “NAP.”

The proceeds from the offering will be used primarily to fund a portion of the purchase price of the capital stock in the subsidiaries of Navios Acquisition that own vessels that will comprise Navios Midstream’s initial fleet of very large crude carriers, or VLCCs.

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.
Source: Navios Maritime Acquisition Corporation