Posts for Ticker ‘NM’

Dry Bulk Shipping Stocks Rally

Tickerspy’s Dry Bulk Shipping Stock Index (*DBULK) rose 5.1% today, beating the S&P 500 by 1.3.%.  Dry shipping stocks were given a boost by upgrades today.  Deutsche Bank upgraded Genco (NYSE: GNK), Euroseas Ltd (NASDAQ: ESEA), and Eagle Bulk Shipping (NASDAQ: EGLE) today.  All three made major moves today.

Over half of the dry shipping stocks in the Tickerspy index has risen over 100% off of their 52-week lows.  The industry was placed in serious jeopardy as global trade entered a state of decline during the credit crunch.  Shipping rates fell dramatically as recently as this summer, but have been on the rise in recent months.

Garrett W. McIntyre

Posted on: November 16, 2009 – 4:39 pm in Transports, , , , , , , , , , , , , , , ,

Growing List of Damaged Post-IPO’s (SB, NM, RSOL, RAX, IPI, WES, PSE)

Down_arrow_redWe would be reporting the economic numbers from the government’s Department of Redundancy Department if we said it is an ugly bear market and if we told you that the IPO market was all but dead.  But what is amazing here is the absolute poor performance we have seen out of the 2008 post-IPO companies.  Many of these companies are still doing well, and some are not.  But in our screen of the big IPO’s there is an astonishing number of post-IPO’s that are trading much worse than just busted IPO’s by being under the IPO price. 

Our list of 2008 IPO’s here was 30% and a somewhat active stock volume.  Below is the list of post-IPO’s we track with shares down more than 30% from the IPO price:

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Posted on: October 7, 2008 – 4:17 pm in Uncategorized, , , , , , ,

IPO Pricing: Navios Maritime Acquisition Corporation (NNA.U, NM)

Navios Maritime Acquisition Corporation (NYSE: NNA.U) has priced its IPO of 22,000,000 units at a price of $10.00 per unit for aggregate gross proceeds of $220,000,000.  Each unit represents one share of common stock and one warrant to buy a share of stock at $7.00. 

J.P. Morgan and Deutsche Bank were the joint book-running managers and S. Goldman Advisors LLC acted as the co-manager for the IPO.

If you check the filing dates and details we covered on this one, you might determine this was the fastest SPAC or Blank Check IPO in history.

Navios Maritime Holdings Inc. (NYSE: NM) is the sponsor company.

Jon C. Ogg
June 26, 2008

Posted on: June 26, 2008 – 8:40 am in IPOs, ,

Blank Check IPO Filed: Navios Maritime Acquisition (NM, NNA)

Navios Maritime Acquisition Corporation  is a special purpose acquisition company, or SPAC/Blank Check company, that has filed to come public via an IPO.  It has filed to sell some 22,000,000 units, with each unit representing one share of stock and one warrant with a $7.00 strike price, and has the applied ticker of "NNA" on the NYSE.

Navios Maritime Holdings Inc. (NYSE: NM) has committed to purchase from us 7,600,000 warrants at $1.00 per warrant for a total purchase price of $7,600,000, which will occur simultaneously with the completion of this offering.

The lead underwriters are listed as JPMorgan and Deutsche Bank Securities, and another company called S. Goldman Advisors LLC is listed as well.

Navios formed under the laws of the Marshall Islands for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination, one or more assets or operating businesses in the marine transportation and logistics industries, with a primary focus on target businesses outside of the drybulk shipping sector.

Jon C. Ogg
June 17, 2008

Posted on: June 17, 2008 – 2:24 pm in IPOs, ,