Navios Maritime Acquisition plunges on deep-discounted stock offering

Navios Maritime Partners

18/10/2019 15:01

** Navios Maritime Acquisition Corporation  NNA.N  down
19.7% to $8.38 after stock offering
    ** NNA 2nd biggest loser on NYSE
    ** Petroleum and liquid chemical shipping co prices direct
offering of 1.9 mln shares at $8, a 23% discount to stock's
Thurs close, for gross raise of $15 mln  urn:newsml:reuters.com:*:nGNX4WB30V
    ** Fearnley Secs acted as sole lead manager
    ** Offering represents about a quarter of NNA free float of
shares, per Refinitiv data
    ** ~587k shares have traded vs 30-DMA volume of ~215k
    ** Drop on Fri cutting stock's YTD gain to ~158%

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