Proficient Alpha Acquisition Corp. Announces Pricing of $100 Million Initial Public Offering
29 Maio 2019 - 7:29PM
Proficient Alpha Acquisition Corp. (NASDAQ: PAACU, the “Company” or
“Proficient”) announced today that it priced its initial public
offering of 10,000,000 units at $10.00 per unit. The units are
expected to be listed on The NASDAQ Capital Market (“NASDAQ”) and
trade under the ticker symbol “PAACU” beginning May 30, 2019. Each
unit consists of one share of common stock, one warrant to purchase
one share of common stock at a price of $11.50 per share and one
right to receive one-tenth of one share upon the consummation of
the Company’s initial business combination. Once the securities
comprising the units begin separate trading, the common stock,
warrants and rights are expected to be listed on NASDAQ under the
symbols “PAAC,” “PAACW” and “PAACR,” respectively.
The underwriters have been granted a 45-day option to purchase
up to an additional 1,500,000 units offered by the Company to cover
over-allotments, if any.
The offering is expected to close on June 3,
2019, subject to customary closing conditions.
I-Bankers Securities, Inc. acted as sole book-running manager of
the offering. EarlyBirdCapital, Inc. acted as the co-manager of the
offering.
About Proficient
Proficient Alpha Acquisition Corp. is a blank check company
formed for the purpose of entering into 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 a particular industry or geographic
region, although the Company intends to focus its search on
companies which provide financial services in Asia, primarily
China.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on May
29, 2019. The offering is being made only by means of a prospectus,
copies of which may be obtained by contacting I-Bankers Securities,
Inc., 535 5th Avenue, 4th Floor, New York, New York 10017;
info@ibankers.com.
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 the successful consummation of the Company’s
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward-looking
statements. 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.
Contact:Tracy LuoProficient Alpha Acquisition
Corp.Info@paac-us.com
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