Home Top Movers What Caused The NNA Stock To Rise On Wednesday?

What Caused The NNA Stock To Rise On Wednesday?

More than 0.19 million Navios Maritime Acquisition Corporation (NYSE: NNA) shares traded Wednesday, resulting in a closing price of $3.62 on the day. Navios stock has decreased by -7.42% during the last week with an increase of nearly 11.04% on 04/14/21. Presently, 16.10 million common shares of NNA stock are owned by the public, and among these 10.80 million shares are currently tradable. Release of its financial results is the reason behind surge in the NNA stock.

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What NNA said?

The Navios Acquisition group is an owner and operator of tanker vessels, focused on the transportation of petroleum, bulk liquid chemicals, and liquefied natural gas.

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  • A conference call will be held for Navios Acquisition this coming Thursday at 8:30 am Eastern Standard Time.
  • The executive management will provide a summary of results as well as a comment on NNA’s performance for the reported period.
  • Before the conference call, NNA will announce fourth quarter and full year earnings results.
  • NNA website will post a slide presentation under the “Investors” section by 8:00 am ET on the day of the conference call.

Other Developments:

Further, NNA entered into a secured loan agreement for $100.0 million (the “Loan”) with a subsidiary of N Shipmanagement Acquisition Corporation (“Lender”).

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Navios Acquisition (NNA) will pay a quarterly interest at a rate of 11% per annum on an outstanding two-year loan with scheduled amortization. If NNA chooses to defer all scheduled amortization and interest payments, the loan will be at a base interest rate of 12.5%.

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