Hydra Industries Acquisition Corp announces closing of IPO
31/10/2014 17:45
Hydra Industries Acquisition Corp today said that the closing of its initial public offering of 8 million units at an offering price of USD 10 per unit, resulting in gross proceeds of USD 80 million, before underwriting discounts and commissions and offering expenses, reported media. The Company has granted the underwriters a 45-day option to purchase up to an additional 1.2 million units to cover over-allotments, if any, in the public offering. The Company is a newly organized blank check company formed for the purpose of effecting a merger or other business combination with a target company. The proceeds of the offering will be used in connection with such business combination, as per the media reports. The Company's units began trading on the NASDAQ Stock Market under the symbol "HDRAU" on October 24, 2014. Once the securities comprising the units begin separate trading, the common stock, warrants and rights are expected to be listed on the NASDAQ Stock Market under the symbols "HDRA", "HDRAW" and "HDRAR", respectively. UBS Investment Bank acted as sole book-running manager and EarlyBirdCapital, Inc. acted as co-manager for the offering.
31/10/2014 17:45
Hydra Industries Acquisition Corp today said that the closing of its initial public offering of 8 million units at an offering price of USD 10 per unit, resulting in gross proceeds of USD 80 million, before underwriting discounts and commissions and offering expenses, reported media. The Company has granted the underwriters a 45-day option to purchase up to an additional 1.2 million units to cover over-allotments, if any, in the public offering. The Company is a newly organized blank check company formed for the purpose of effecting a merger or other business combination with a target company. The proceeds of the offering will be used in connection with such business combination, as per the media reports. The Company's units began trading on the NASDAQ Stock Market under the symbol "HDRAU" on October 24, 2014. Once the securities comprising the units begin separate trading, the common stock, warrants and rights are expected to be listed on the NASDAQ Stock Market under the symbols "HDRA", "HDRAW" and "HDRAR", respectively. UBS Investment Bank acted as sole book-running manager and EarlyBirdCapital, Inc. acted as co-manager for the offering.
