Navios bags $34m

Navios CEO Angeliki Frangou

Navios Maritime Partners says it has raised gross proceeds of $34.2m in its latest share offering.

The NYSE-listed bulker owner sold 2.8 million common shares at $12.21 apiece in a deal that closed Wednesday.

The Piraeus-based company, a Navios Maritime Holdings spin-off with a fleet of 10 panamax and capesize bulkers, still could earn more from the offering.

As TradeWinds has reported, underwriters have 30-day options to purchase an additional 420,000 shares.

Navios Partners has said that it will use the funds for general corporate purposes and fleet expansion.

By Eric Martin in Stamford

Published: 21:25 GMT, 23 Sep 09 | updated: 21:30 GMT, 23 Sep 09

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