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Doing so great today!!!! this company has all the potential to be a $20 + stock!
you heard that right $4 a gallon of gasoline is coming! Almost the same price of NNA , so incredibly cheap with a dividend here....
Price of Oil still high, once we get another few press releases we will do fine. NNA needs to work on connecting with investors just a bit more then magic will happen.
Oil inventories Down! Price on the rise!
looks like whoever was dumping shares over the last few months is done!
very excited to see how this trades in the New Year! 2011
The rally has Begun!!!!!
this is the company you love to hate what more can i say?
JP Morgan is fradulent in it's actions naked shorting this and crashing the stock, then reversing the trade and upgrading it on valuation. Im ready to start a class action on these actions.
tell us what this means?
WOWSA 1/2 billion shelf filed after the close on friday @ 5:17...how sneaky after the put out news this morning...
Navios Maritime Files $500M Mixed Securities Shelf >NNALast update: 9/10/2010 5:17:52 PM
I see that Goldman is involved deep with our Navios, I guarantee they are responsible for the big drop over the past months, they most likely suggested calling in the warrants and front loaded by selling stock to buy warrants. Unscrupulous but they have been convicted of fraud before, I wouldn't put it past them and is truly the only logical explanation.
I invite you to look at how thinly traded this is with a low public float of under 10 million shares! this is the start of a very bright future for Navios and it's foothold in the Tanker segment of the global shipping business... Welcome aboard crew!
This is one of the best opportunities, I have been buying this hand over fist and telling everyone I know to buy it too!
low volume now, but our day will come soon enough in the very near future!
see this action recently!
read the new news!! may not get another chance at this under $7
looking at a $20-$50 stock easy folks! Float is under 10 million!!!!
transfer the funds! BUY BUY BUY!!!!!!!
Still Adding, what a damn steal down here!!!!!
I have been adding here between 5.90 and 6.05
Keep those Tankers Coming!!!!!! nice to have you two aboard!
the craziest thing is that NNA offered to buy back the shares just before the drop, I declined the offer when the deadline was up this baby took a nose dive what a bummer. I'm staying long, only thing i can see is negative outlook for the industry, and it will take 1-2 years to pay a dividend and the ships to come online, so investors don't want to wait, I'm looking for the bottom to add
Not sure if i get this one either, i have looked for really bad news that would drive the price down to its 52 week low and none found.
Anyone with some insight???
Why the huge sell-off? reduction in cash on hand? and initial payment? like when a new car drives off the lot your already down?
Navios Maritime Holdings Inc. Announces Initial Payment for Acquisition of Tanker Vessels
PIRAEUS, Greece, May 19 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM) announced today that it has made the initial payment of $171.7 million for the acquisition of 11 product and chemical tanker vessels. The installment was funded by $133.0 million drawn from two credit facilities and $38.7 million from available cash. The $206.0 million balance will be paid in installments ending with delivery of the vessels. The initial payment has not yet been made for the two additional product tankers that are part of the 13 vessel fleet.
Navios Holdings has previously announced a definitive agreement pursuant to which it will sell the 13 vessel fleet, comprised of 11 product tankers and two chemical tankers to Navios Maritime Acquisition Corporation ("Navios Acquisition") at cost (an aggregate of $457.7 million for 13 vessels). However, if Navios Acquisition's stockholders do not approve the vessel acquisition at the special stockholders meeting to be held Tuesday, May 25, 2010, Navios Holding will acquire and manage this fleet.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. For more information please visit our website: www.navios.com.
Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) for purchase at fair market value according to the terms of the Omnibus Agreement. For more information please visit its website: www.navios-mlp.com.
up .18 $1.45....heehee!
NNA+ up .17 1.44.
the company is free at the current market value with Navios and Angeliki as our major shareholders with controlling interest. There is no one person or company better suited for the job, In my opinion these are the most exciting Tanker assets you can own!
we all know NNA is a $20 stock easy!
Navios Maritime Acquisition Corporation announced today that the special meeting for voting of the proposed vessel acquisition by Navios Acquisition will take place on Tuesday, May 25, 2010 at 10:00 a.m., Eastern Standard Time, at the offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., The Chrysler Center, 666 Third Avenue, New York, New York 10017.
Technically, NNA is currently upgraded to buy with the $11.64 target price in six months.
"http://www.stoxline.com/quote.php?symbol=nna"
huge monsta blocks, and i only have little over 1000 shares and looking to add on any weakness!
Monsta blocks going thru on the warrants...$160,000 worth at a clip....can only mean one thing up up up we go soon!
NNAU is how you can buy 1 share + warrant!
whats the rundown on it?
when does it expire?
NNA+ on Ameritrade and NNA.WS on Eturd...
nice play! whats the warrants ticker? so we can all take part?
price of oil on the rise!!!!!!!!!!!!!!
IM so excited to get these TANKERS baby weeeeeeeeeeeeeeeeeeee
NEW YORK 04/08/10 (TheStreet) -- A blank-check company sponsored by the Greek shipping group Navios Holdings(NM) finally has a business to go along with its incorporation, after announcing an agreement on Thursday to purchase 13 tanker ships for nearly half a billion dollars.
Eleven of the ships are so-called "product" tankers, meaning they carry refined products such as gasoline or jet fuel. The other two are chemical tankers.
Called Navios Acquisition(NNA), the company is a SPAC (short for special-purpose acquisition company), which first floated shares to the public in June 2008, not long after the New York Stock Exchange allowed such vehicles to list. (SPACs have a dubious history, with many cases of shareholder fraud, and for years only the American Stock Exchange would allow them.)
Several years ago, before the crash and the recession, SPACs enjoyed a boom, with investors lining up to sponsor them. After raising money through a public offering, SPACs must then search for a business to acquire, often taking private companies public through the back door.
Navios Holdings itself -- and its CEO, Angeliki Frangou, one of the few women in corner offices in the shipping industry -- is no stranger to the special-purpose vehicle. A SPAC sponsored by Frangou in the early 2000s acquired Navios and brought it public. One of the oldest and most venerable names in dry bulk, Navios has existed since the 1950s, when it was the ocean-going shipping arm of U.S. Steel.
Generally, SPACs have about a two-year window within which to do a deal. If the sponsors don't meet this self-imposed deadline, the vehicles dissolve and shareholders theoretically get back their money.
Navios Acquistion was therefore running up against its own deal deadline. According to SEC documents, the SPAC's CEO, Angeliki Frangou, who also heads up Navios Holdings and its sister Navios Partners(NMM), was approached in February by a bank looking to help sell nine tankers then on order at shipyards. Most likely, the group or groups who had placed the orders for these ships had run into financial trouble, and could no longer afford them. Navios then bought four other ships, and an option to buy two more, from a series of other sources.
The sellers weren't identified. But in order to facilitate the deals and obtain better terms on its acquisition financing, Navios Holdings first acquired the ships. Under the terms of the deal announced Thursday, the ships will be transferred to the shell company for $457.7 million. The SPAC will pay $123.4 million of the total in cash -- funds raised in its IPO. The rest of the purchase price, $333.4 million, will come from loans. Navios Holdings owns 19% of the SPAC, but that percentage will grow to nearly 35% if the deal is completed and the units are converted to shares in the post-deal company.
In order to complete the deal, a majority of the SPAC's shareholders as of April 26 need to approve it. A date for the vote hasn't yet been scheduled.
The first two ships are scheduled for delivery in May (and await time charters already struck by Navios), and the next pair in September and November. The rest won't be finished until 2011 and 2012. All are being constructed at shipyards in South Korea.
Per ship, the prices range from $28.7 million to $43.5 million depending on size, which go from 50,000 to 75,000 deadweight tons. That would appear to be a bargain. "Vessel prices values are at pretty much historical lows," said Natasha Boyden, a shipping analyst at Cantor Fitzgerald, "which is a bonus for them."
"It's a quintessential buy low, sell high," said Urs Dur, who covers Navios Holdings and the shipping industry for Lazard Capital Markets.
Still, the product-tanker business has taken it on the chin since the recession, much more so than dry-bulk or even crude carriers, though not as badly as the container ship sector. Rates for the ocean transport of refined product cargoes have yet to recover. If it were taking delivery of all the ships today, it would be difficult for the company to turn a profit, said Urs Dur. But because the orders are spread out over the next two years, it won't matter.
Navios, of course, is betting on a recovery in tanker rates. Boyden noted that Asia and India are in the midst of a refinery-building binge, which would increase demand for product-tanker services.
Like all shipping sectors, the product tanker market faces a glut, with hundreds of new ships scheduled for delivery over the next two years. But, Lazard's Dur said, the depressed state of product-tanker rates likely means that many of the ship owners who ordered these vessels won't make good on the sales contracts. Thus, a large portion of the product-tanker orderbook, he believes, will likely be delayed or canceled.
Navios Holdings' stock ended trading Thursday at $6.76, up 15 cents, or 2.3%. Shares of Navios Acquisition, meanwhile, rose 6 cents to $9.90, on volume of 441,000, a huge number for a security with an average turnover of just 72,600 a day.
-- Written by Scott Eden in New York 04/08/10
tradewinds story:
NM director sails to Navios Acquistion
Rex Harrington has resigned as a director of Navios Holdings to seize a spot on the board of directors at Navios Acquisition, according to filings with the US Securities and Exchange Commission (SEC).
Rex Harrington
If Navios Acquistion wins shareholder approval for its proposed 13-ship foray into the products tanker sector, Harrington will take a top seat on the board and join the company's audit and nominating committee.
The ship finance guru has served on Navios Holding's board of directors since 2005.
At 77, Harrington has been linked to some of most notable names in the shipping sphere.
A graduate of Oxford, he held posts at the Royal Bank of Scotland, Torm, and shipbroking outfit Clarksons.
Harrington also served as a director of Peter Georgiopoulos' NYSE-listed General Maritime Corp.
As TradeWinds has reported, Angeliki Frangou’s Navios Maritime Acquisition Corp made a surprise move into the tanker market yesterday by proposing a plan to splash out nearly $460m on 13 ships.
Navios Acquisition was launched in 2008 a couple of months before the collapse of Lehman Bros. It raised $220m from a New York listing, which had to be spent by 30 June or returned to investors.
By Aaron Kelley in Stamford
Published: 17:52 GMT, 09 Apr 10 | updated: 18:07 GMT, 09 Apr 10
Warrants up over 10% today last 1.55..eom
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** Important to reference NM & NMM
NNA .... Formation and Initial Public Offering
Navios Maritime Acquisition Corporation (the "Company") was incorporated in the Republic of the Marshall Islands on March 14, 2008. The Company was formed to acquire through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination one or more assets or operating businesses in the marine transportation and logistics industries.
On July 1, 2008, Navios Acquisition consummated its initial public offering of 25,300,000 units, which included 3,300,000 units issued upon exercise of the underwriters' over-allotment option, at a price of $10.00 per unit in the offering. Each unit consists of one share of our common stock, $0.0001 par value per share, and one redeemable common stock purchase warrant. Each warrant entitles the holder to purchase from the Company one share of common stock at an exercise price of $7.00 commencing on the later of (a) the completion of a business combination or (b) June 25, 2009, and will expire June 25, 2013. The warrants are redeemable at a price of $0.01 per warrant upon 30 days prior notice after the warrants become exercisable, only in the event that the last sale price of the common stock is at least $13.75 per share for any 20 trading days within a 30 trading day period ending on the third business day prior to the date on which notice of redemption is given.
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