MONACO, June 08, 2017 (GLOBE NEWSWIRE) -- Navios Maritime Containers Inc. (“Navios Containers”), a growth
vehicle dedicated to the container sector, announced today that it has closed the previously announced private placement and the
acquisition of five container vessels and rights to the remaining fleet (the “Fleet”) of Rickmers Maritime Trust Pte. (“Rickmers
Trust”).
Private Placement
Navios Containers issued approximately 10 million shares for $50.3 million of gross proceeds at a subscription
price of $5.00 per share. Navios Maritime Partners L.P. (“Navios Partners”) invested $30.0 million and received about 60% of the
equity, and Navios Maritime Holdings Inc. (“Navios Holdings”) invested $5.0 million and received about 10% of the equity of Navios
Containers. Each of Navios Partners and Navios Holdings also received warrants, with a five-year term, for 6.8% and 1.7% of
the equity, respectively.
Fearnley Securities acted as the sole lead manager for the private placement and S. Goldman Advisors LLC acted
as structuring advisor.
Registration on the Norwegian OTC Market
Navios Containers has registered for trading on the Norwegian Over-The-Counter Market (N-OTC) and expects to
begin trading on or about June 12, 2017 under the ticker NMCI.
Rickmers Trust Fleet
Navios Containers used the proceeds from the private placement to acquire five 4,250 TEU vessels from Navios
Partners for a total purchase price of $64.0 million. These vessels, recently acquired by Navios Partners from Rickmers Trust, are
employed on charters with a net daily charter rate of $26,850. The charters expire in 2018 and early 2019 and are expected to
generate approximately $45.0 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per
year.
The purchase price was partially funded through $40.0 million in proceeds raised through the private placement
and the balance in the form of a $24.0 million credit by Navios Partners for a period of 90 days at L+375 bps. Navios
Containers is in advanced discussions for an up to $40.0 million loan from a commercial lending bank.
In addition, Navios Containers acquired all the rights under the acquisition agreements entered into between
Navios Partners and Rickmers Trust to purchase the remaining nine vessels in the original 14-vessel container Fleet. The
acquisition of the nine additional vessels is subject to a number of conditions, and no assurance can be provided that the
acquisition will close at all or in part.
About Navios Maritime Containers Inc.
Navios Maritime Containers Inc. is a growth vehicle dedicated to the container sector of the maritime
industry. For more information, please visit our website at www.navios-containers.com.
Forward-Looking Statements
This press release contains forward-looking statements concerning future events including the financing of the
acquisition of the Fleet, the acquisition of the remaining Fleet, the transfer of the Fleet and the benefits of the acquisition of
the Fleet; including expected vessel acquisitions and entering into further time charters, as well as expected financial
performance of the Fleet. Words such as “may”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, and
variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking
statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Containers
at the time these statements were made. Although Navios Containers believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements
involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to
significant uncertainties and contingencies, many of which are beyond the control of Navios Containers. Actual results may differ
materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ
materially include, but are not limited to, risks relating to the completion of the remaining Fleet’s acquisition on the
anticipated timing or at all, the quality of the Fleet and the market for the Fleet vessels, and changes in the availability and
costs of funding due to conditions in the bank market, capital markets and other factors, as well as general domestic and
international political conditions. Navios Containers expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Containers’ expectations
with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Containers makes
no prediction or statement about the performance of its common units.
Contact Public & Investor Relations Contact: Navios Maritime Containers Inc. +1.212.906.8648 Investors@navios-containers.com
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