Reid Collins Notifies Navios Preferred ADS Holders of Tender Offer Deficiencies

NEW YORK, Oct. 23, 2026 /CourierPR/ -- Reid Collins & Tsai LLP, a law firm known for high-stakes business litigation, has notified holders of Navios Maritime Holdings, Inc.’s preferred American Depositary Shares (ADS) of deficiencies in the company’s recent tender offer documentation. The firm represents plaintiff Katz in a lawsuit pending in the New York Supreme Court (Commercial Division) against Navios. The lawsuit, titled Katz v. Navios Maritime Holdings, Inc., Index No. 157627/2025, seeks to recover unpaid and accrued dividends for preferred stock ADS holders.

According to the release, the lawsuit centers on a violation of Section 6(f) of the Preferred Stock Certificates of Designation. This section stipulates that Navios or any of its affiliates cannot acquire common stock unless full cumulative dividends on the Series G and H Preferred Stock for all prior and then-ending dividend periods have been paid or declared and set aside for payment. Angeliki Frangou and the buyer group she controlled allegedly violated this provision when they acquired common stock in Navios’s December 2023 merger without first paying the accrued dividends.

Plaintiff Katz is seeking recovery for himself and each class member in the form of the unpaid and accrued dividends on the preferred stock ADSs as of December 13, 2023, plus interest. As of October 13, 2026, the total amount of unpaid dividends Katz seeks to recover for the Series G Preferred ADS Holders is $17.34 per ADS plus prejudgment interest of $4.42 per ADS (total: $21.76 per Series G ADS). For the Series H Preferred ADS Holders, the total amount is $17.10 per ADS plus prejudgment interest of $4.36 per ADS (total: $21.46 per Series H ADS).

Navios has issued a $12.00 Offer to Purchase for the preferred stock ADSs. However, the tender consideration is less than the amount of accrued and unpaid dividends, plus interest, that Katz seeks to recover for each preferred stock ADS. If holders accept Navios’s tender offer, they release their ability to recover in the Katz Litigation and relinquish their preferred stock ADSs. On the other hand, if they do not tender, they retain the possibility of recovering in the Katz Litigation and their preferred stock ADSs with all the rights afforded to them under the litigation.

Reid Collins & Tsai LLP has extended the Expiration Date of Navios’s Offer to Purchase until 11:59 PM on November 2, 2026, to give preferred ADS holders an opportunity to consider the offer with the additional information provided. Any holder who has already accepted Navios’s Offer to Purchase and wishes to withdraw may do so by following the instructions included in the Offer to Purchase. Additionally, the Court has ordered Navios to extend the Expiration Date of its Offer to Purchase until 11:59 PM on November 2, 2026.