Monaco - Dec. 24, 2018
Navios Maritime Holdings Inc. (the “Company” or “Navios Holdings”) (NYSE: NM) announced that the previously disclosed one-for-ten reverse split of its common stock was approved by Company’s stockholders at its annual regular meeting held December 21, 2018.
The reverse stock split will be effected immediately before any trading commences prior to market open on January 3, 2019. The common stock will begin trading on January 3, 2019 on a split-adjusted basis on the New York Stock Exchange, under the same ticker symbol, NM.
Based on approximately 124.7 million shares of common stock issued and outstanding as of the record date, following the reverse split the Company will have approximately 12.5 million shares of common stock issued and outstanding.
The certificate of amendment to the Company’s certificate of incorporation in connection with the reverse stock split will not decrease the number of authorized shares of common stock.
Continental Stock Transfer & Trust Company, the Company’s stock transfer agent, will act as the exchange agent for the reverse stock split.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com.
Navios Maritime Holdings Inc. press release