Monaco - Nov. 09, 2018
Navios Maritime Acquisition Corporation (“Navios Acquisition” or the “Company”) (NYSE: NNA), an owner and operator of tanker vessels, announced that the previously disclosed one-for-fifteen reverse split of its common stock was approved by Company’s stockholders at a special meeting held today.
The reverse stock split will be effected immediately before any trading commences prior to market open on November 14, 2018. The common stock will begin trading on November 14, 2018 on a split-adjusted basis on the New York Stock Exchange, under the same ticker symbol, NNA.
Based on approximately 144.1 million shares of common stock issued and outstanding as of the record date, following the reverse split the Company will have approximately 9.6 million shares of common stock issued and outstanding. The certificate of amendment to Navios Acquisition’s certificate of incorporation in connection with the reverse stock split will not decrease the number of authorized shares of common stock. The conversion ratio for the Company's Series C Convertible Preferred Stock will be adjusted proportionally.
Continental Stock Transfer & Trust Company, the Company’s stock transfer agent, will act as the exchange agent for the reverse stock split.
About Navios Acquisition
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. For more information about Navios Acquisition, please visit our website: www.navios-acquisition.com.
Navios Maritime Acquisition Corporation press release