Navios Maritime Holdings launches cash tender offer for preferred shares
Navios Maritime Holdings has launched a cash tender offer to purchase any and all outstanding Series G and Series H American Depositary Shares (ADSs), offering holders $12.00 per ADS under the terms of the transaction.
The offer, detailed in an Offer to Purchase dated 9 October 2026, applies to existing holders of the company’s two series of preferred ADSs. The tender period is scheduled to expire at 11:59 p.m. New York City time on 23 October 2026, unless extended or otherwise modified.
Navios stated that the transaction is intended to provide liquidity to holders of the securities, which have not received cash dividends since February 2016. The offer remains subject to the conditions outlined in the official tender documentation.
Offer represents premium to recent trading prices
The $12.00 cash consideration represents a premium to the historical trading prices of both preferred ADS series, according to figures provided by Navios.
Compared with the volume-weighted average prices for the period ended 2 October 2026, the offer represents a premium of approximately 102% for Series H ADSs and 81% for Series G ADSs. Against the respective 90-day volume-weighted averages, the premiums are approximately 82% and 71%.
The consideration also exceeds the last reported trading prices in the period ended 2 October, representing premiums of 71% for Series H ADSs and 50% for Series G ADSs.
Each Series G ADS represents one-hundredth of a share of the company’s 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock. Each Series H ADS similarly represents one-hundredth of a share of its 8.625% Series H Cumulative Redeemable Perpetual Preferred Stock.
Tender offer remains subject to conditions
The offer is not conditional on a minimum number of ADSs being tendered and does not require additional financing. However, its completion remains subject to other conditions specified in the Offer to Purchase.
Holders may tender their securities and retain withdrawal rights until the stated expiration deadline, subject to the applicable terms. Brokers and securities intermediaries may impose earlier internal deadlines for processing tender instructions.
Georgeson LLC is acting as Information Agent, while Citibank, N.A. is serving as Tender Agent.
The announcement marks the commencement of the tender process rather than a completed repurchase. The final number of ADSs acquired will depend on participation by eligible holders and satisfaction of the applicable offer conditions.
