Liberty Acquisition Holdings Corp. Announces Exercise of Over-Allotment Option Bringing Gross Proceeds of IPO to $1.035 Billion
December 12 2007 - 7:56AM
Business Wire
Liberty Acquisition Holdings Corp. (the �Company�) (AMEX:LIA.U)
announced today that on December 11, 2007, the underwriters for the
Company�s initial public offering (the �IPO�) exercised their
over-allotment option in full to purchase an additional 13.5
million units at $10.00 per unit. Each unit consists of one share
of common stock and one half (�) of one warrant. The IPO, including
the exercise of the over-allotment option, will have generated
total gross proceeds of $1.035 billion to the Company (excluding
proceeds of $12.0 million from the sale of warrants to the sponsors
of the Company to be received upon the closing of the IPO). The
lead underwriter for this offering is Citi, with Lehman Brothers
Inc. acting as co-manager. The Company intends to use the net
proceeds from this offering to acquire one or more operating
businesses through a merger, stock exchange, asset acquisition,
reorganization or similar business combination as described in the
prospectus. In addition, the Company announced today that
commencing on December 19, 2007, the Company expects that the
holders of the Company�s units may elect to separately trade the
common stock and warrants included in the Company�s units. Those
units not separated will continue to trade on the American Stock
Exchange under the symbol LIA.U, and each of the common stock and
warrants will trade on the American Stock Exchange under the
symbols LIA and LIA.WS, respectively. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, 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 such state or jurisdiction. This offering is
being made only by means of a prospectus, copies of which may be
obtained by contacting Citi, Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax:
718-765-6734). Forward-Looking Statements This press release may
contain certain forward-looking statements including statements
with regard to the future performance of the Company. Words such as
�believes,� �expects,� �projects,� and �future� or similar
expressions are intended to identify forward-looking statements.
These forward-looking statements inherently involve certain risks
and uncertainties that are detailed in the Company�s Prospectus and
other filings with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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