Navios Maritime Acquisition Corporation
Successful Completion of Warrant Program
PIRAEUS, Greece, September 2, 2010 — Navios Maritime Acquisition Corporation (“Navios
Acquisition”) (NYSE: NNA, NNA.WS, NNA.U) is pleased to announce the successful completion of
its warrant program (the “Warrant Program”). Under the Warrant Program, holders of publicly
traded warrants (“Public Warrants”) had the opportunity to exercise the Public Warrants on
enhanced terms through Friday, August 27, 2010.
Under the Warrant Program, 19,262,006 Public Warrants (76.13% of the Public Warrants
outstanding) were exercised, of which 19,246,056 Public Warrants were exercised cashlessly and
15,950 Public Warrants were exercised by payment of the $5.65 cash exercise price.
As a result of the successful completion of the Warrant Program, Navios Maritime Holdings Inc.
(“Navios Holdings”) and Angeliki Frangou exercised 13,835,000 of the privately issued warrants
(the “Private Warrants”). In addition, the remaining 90,000 Private Warrants have also been
exercised, 75,000 of which were exercised on a cashless basis.
As a result, the following corporate actions were completed:
- $90,118 of gross cash proceeds were raised from the exercise of the Public Warrants;
- $78,252,500 of gross cash proceeds were raised from the exercise of the Private Warrants;
- 18,412,053 new shares of common stock were issued.
As of September 1, 2010, Navios Acquisition had outstanding 40,015,654 shares of common
stock and 6,037,994 Public Warrants. No other warrants are outstanding, as all Private Warrants
have been exercised.
S. Goldman Advisors LLC was dealer manager for the Warrant Program and Mintz, Levin, Cohn,
Ferris, Glovsky & Popeo, P.C. acted as counsel to Navios Acquisition.
Questions regarding the completed Warrant Program may be directed to Morrow & Co., Inc., the
Information Agent. Morrow’s telephone number for banks and brokers is +1 (203) 658-9400 and for