NEW
YORK, Feb. 16, 2023 /PRNewswire/ -- Mars
Acquisition Corp. (Nasdaq:MARXU) (the "Company"), a Cayman Islands exempted company incorporated
as a blank check company for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses, today
announced the closing of its previously announced initial public
offering of 6,900,000 units at an offering price of $10.00 per unit, which includes 900,000 units
issued pursuant to the full exercise of the underwriter's
over-allotment option, for aggregate gross proceeds to the Company
of $69,000,000.
Each unit consists of one ordinary share and one right. Each
right entitles the holder thereof to receive two-tenths (2/10) of
one ordinary share upon consummation of the Company's initial
business combination. The units began trading on the Nasdaq Global
Market ("Nasdaq") under the ticker symbol "MARXU" on February 14, 2023. Once the securities comprising
the units begin separate trading, the ordinary shares and rights
will be traded on Nasdaq under the symbols "MARX" and "MARXR,"
respectively.
Maxim Group LLC acted as the sole book-running manager for the
offering.
A registration statement on Form S-1 (File No. 333-265240) (the
"Registration Statement") relating to the securities sold in the
initial public offering was declared effective by the U.S.
Securities and Exchange Commission (the "SEC") on February 13, 2023. The offering is being made
only by means of a prospectus. Copies of the prospectus relating to
this offering may be obtained from Maxim Group LLC, 300 Park
Avenue, 16th Floor, New
York, NY 10022, or by accessing the SEC'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.
About Mars Acquisition Corp.
Mars Acquisition Corp. is a Cayman
Islands exempted company incorporated as a blank check
company, also commonly referred to as a special purpose acquisition
company, or SPAC, formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering and search for an initial
business combination. No assurance can be given that the offering
discussed above will be completed on the terms described, or at
all. Forward-looking statements are subject to numerous conditions,
many of which are beyond the control of the Company, including
those set forth in the Risk Factors section of the Registration
Statement and related preliminary prospectus filed with the SEC.
Copies are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes in events, conditions or circumstances on which any
statement is based after the date of this release, except as
required by law.
Contact Information:
Karl Brenza
Tel: 914-374-0060
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SOURCE Mars Acquisition Corp.
