Union Acquisition Corp. Announces Closing of $115 Million Initial Public Offering Including Over-Allotment Option
02 März 2018 - 10:59PM
Business Wire
Union Acquisition Corp. (NYSE: LTN.U) (the “Company”) announced today the closing of its
initial public offering of 11,500,000 units at $10.00 per unit
including 1,500,000 units which were subject to the underwriters’
over-allotment option. Each unit consists of one ordinary share of
the Company (“Ordinary Shares”), one
right to receive one-tenth (1/10) of one Ordinary Share upon
consummation of an initial business combination, and one redeemable
warrant entitling the holder to purchase one Ordinary Share at a
price of $11.50 per share. The units have been listed on the New
York Stock Exchange (“NYSE”) and trade
under the ticker symbol “LTN.U.” Once the securities comprising the
units begin separate trading, the ordinary shares, rights and
warrants are expected to be traded on the NYSE under the symbols
“LTN,” “LTN RT” and “LTN WS,” respectively.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$116,150,000 (or $10.10 per Ordinary Share sold in the offering)
was placed in trust. An audited balance sheet of the Company as of
March 2, 2018 reflecting receipt of the proceeds upon consummation
of the initial public offering and the private placement will be
included as Exhibit 99.1 to a Current Report on Form 8-K to be
filed by the Company with the Securities and Exchange
Commission.
Union Acquisition Corp. is a newly formed blank check company
organized for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, recapitalization,
reorganization, or other similar business combination with one or
more businesses or entities. The Company’s efforts to identify a
prospective target business will not be limited to any particular
industry or geographic region, although the Company initially
intends to focus on target businesses located in Latin America. The
Company is led by Juan Sartori, Chairman of the Board of the
Company and Chairman and founder of Union Group, and Kyle P.
Bransfield, Chief Executive Officer of the Company and Partner of
Atlantic-Pacific Capital, Inc.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American: LTS), acted as
sole book-running manager of the offering, CIM Securities, LLC
acted as lead manager of the offering and I-Bankers Securities,
Inc. acted as co-manager of the offering. The offering was made
only by means of a prospectus, copies of which may be obtained from
Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New
York, NY 10172, Attn: Syndicate Department. Copies are also
available on the Securities and Exchange Commission’s website,
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including with respect to the initial public offering
and the anticipated use of the proceeds thereof, are subject to
risks and uncertainties, which could cause actual results to differ
from the forward looking statements, including those set forth in
the risk factors section of the prospectus used in connection with
the Company’s initial public offering. No assurance can be given
that the offering discussed above will be completed on the terms
described, or at all, or that the net proceeds of the offering will
be used as indicated. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180302005749/en/
Union Acquisition Corp.Kyle P. Bransfield, 212-981-0630Chief
Executive Officer
Union Acquisition Corp. (NYSE:LTN.UN)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Union Acquisition Corp. (NYSE:LTN.UN)
Historical Stock Chart
Von Jun 2023 bis Jun 2024