AR Capital Acquisition completes $240mn IPO of Units
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08 Oct 2014
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AR Capital Acquisition Corp on Tuesday announced the closing of its previously-announced initial public offering of 24,000,000 units at an offering price of USD 10.00 per unit, reported media. The Company's units are listed on the Nasdaq Capital Market under the trading symbol AUMAU. Each unit consists of one share of the Company's common stock and one-half of one warrant. Each whole warrant will entitle the holder to purchase one share of the Company's common stock at a price of USD 11.50 per share. The Company has granted the underwriters a 45-day option to purchase up to 3,600,000 additional units to cover over-allotments, if any. AR Capital Acquisition Corp. was formed for the purpose of acquiring one or more businesses through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. Citigroup acted as sole book running manager for the offering. Ladenburg Thalmann, a subsidiary of Ladenburg Thalmann Financial Services Inc, acted as co-manager for the offering. |
| Source: Dion Global Type: IPO Related |
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