* Offering of 5.5 mln units priced at 5 pct discount
* Third unit offering since February
* Shares down 6 percent in morning trade
Oct 8 Dry cargo vessel operator Navios Maritime
Partners L.P. (NMM.N) said a units offering, its third this
year, was priced at a 5 percent discount.
The company expects to use proceeds from the offering partly
to fund its fleet expansion.
It said the 5.5 million unit offering was priced at $17.65
per unit. The company's units were down 6 percent at $17.51
Friday morning on the New York Stock Exchange.
Navios Maritime Partner had offered 3.5 million units in
February, and then followed that up with an offering of 4.5
million units in April. [ID:nWNAB2335] [ID:nWNAB4787]
As of April, the company had about 44.1 million shares
outstanding, and as of June, it had long-term debt of $271.5
million and $48.5 million of cash on its balance sheet.
Including Friday's fall, units of the company, which
announced a vessel buy in May, are so far down more than 12
percent from an April year-high.
(Reporting by Adveith Nair in Bangalore; Editing by Aradhana