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Washington, D.C. 20549

Navios Maritime Acquisition Corporation

(Name of Issuer)

Common Stock, par value $0.0001

(Title of Class of Securities)

Y62159101

(CUSIP Number)

December 31, 2008

(Date of Event Which Requires Filing of this Statement)

 

 

CUSIP No.		Y62159101

CUSIP No.		Y62159101

CUSIP No.		Y62159101

CUSIP No.		Y62159101

SCHEDULE 13G/A

This Amendment No. 1 to Schedule 13G (the “Schedule 13G”) is being filed on behalf of Fir Tree Value Master Fund, L.P., a Cayman Islands exempted limited partnership (“Fir Tree Value”), Fir Tree Capital Opportunity Master Fund, L.P., a Cayman Islands exempted limited partnership (“Fir Tree Capital Opportunity”), Fir Tree SPAC Holdings 2, LLC, a Delaware limited liability company (“Fir Tree SPAC”) and Fir Tree, Inc., a New York corporation (“Fir Tree”), relating to common stock (the “Common Stock”) of Navios Maritime Acquisition Corporation, a Marshall Islands company (the “Issuer”), purchased by Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC. Fir Tree SPAC Master Fund, L.P., a Cayman Islands exempted limited partnership ( “Fir Tree SPAC Master”), is the sole member of Fir Tree SPAC, and Fir Tree is the investment manager of for Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC.

Item 1(a)		Name of Issuer.

Navios Maritime Acquisition Corporation

Item 1(b)		Address of Issuer’s Principal Executive Offices.

85 Akti Maiouli Street
Piraeus, Greece 185 38

Item 2(a)		Name of Person Filing.

Item 2(b)		Address of Principal Business Office.

Item 2(c)		Place of Organization.

Fir Tree, Inc.
505 Fifth Avenue
23^rd Floor
New York, New York 10017
A New York corporation

Fir Tree SPAC Holdings 2, LLC
505 Fifth Avenue
23^rd Floor
New York, New York 10017
A Delaware limited liability company

Fir Tree Value Master Fund, L.P.
c/o Admiral Administration Ltd.
Admiral Financial Center, 5th Floor
90 Fort Street, Box 32021 SMB
Grand Cayman, Cayman Islands
A Cayman Islands exempted limited partnership

Fir Tree Capital Opportunity Master Fund, L.P.

c/o Admiral Administration Ltd.
Admiral Financial Center, 5th Floor
90 Fort Street, Box 32021 SMB
Grand Cayman, Cayman Islands
A Cayman Islands exempted limited partnership

Fir Tree, Inc. is the investment manager for each of Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC and has been granted investment discretion over portfolio investments, including the Common Stock (as defined below), held by each of them.

Item 2(d)		Title of Class of Securities.

common stock (the “Common Stock”)

Item 2(e)		CUSIP Number.

Y62159101

Item 3		Reporting Person.

The person filing is not listed in Items 3(a) through 3(j).

Item 4		Ownership.

	(a)		Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC are the beneficial owners of 123,863 shares of Common Stock, 25,137 shares of Common Stock and 1,651,000 shares of Common Stock, respectively. Fir Tree may be deemed to beneficially own the shares of Common Stock held by Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC as a result of being the investment manager of Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC.
	(b)		Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC are the beneficial owners of 0.4%, 0.08% and 5.2%, respectively, of the outstanding shares of Common Stock. Collectively, the Reporting Persons beneficially own 1,800,000 shares of Common Stock which represent 5.7% of the shares of Common Stock outstanding. These percentages are determined by dividing the number of shares of Common Stock beneficially held by 31,625,000, the number of shares of Common Stock issued and outstanding as of July 1, 2008, in the Issuer’s Form 6-K filed with the Securities and Exchange Commission on July 7, 2008.
	(c)		Fir Tree Value may direct the vote and disposition of 123,863 shares of Common Stock. Fir Tree Capital Opportunity may direct the vote and disposition of 25,137 shares of Common Stock. Fir Tree SPAC may direct the vote and disposition of 1,651,000 shares of Common Stock. Fir Tree has

been granted investment discretion over the Common Stock held by Fir Tree Value, Fir Tree Capital Opportunity and Fir Tree SPAC.

Item 5		Ownership of Five Percent or Less of a Class.

Inapplicable.

Item 6		Ownership of More Than Five Percent on Behalf of Another Person.

Fir Tree SPAC Master, as the sole member of Fir Tree SPAC, has the right to receive dividends from and the proceeds from the sale of the shares of Common Stock.

Item 7		Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Inapplicable.

Item 8		Identification and Classification of Members of the Group.

Inapplicable.

Item 9		Notice of Dissolution of Group.

Inapplicable.

Item 10		Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 10, 2009

EXHIBIT INDEX

Exhibit No.		Description
1		Joint Filing Agreement