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