Capitol Acquisition Corp. III Initial Public Offering Proceeds Increased to $325 million
October 15 2015 - 4:15PM
Business Wire
Additional $25 million Raised Pursuant to
Underwriters’ Over-Allotment Option
Capitol Acquisition Corp. III (NASDAQ:CLACU, the “Company”)
announced today that the underwriters have exercised their
over-allotment option to purchase an additional 2,500,000 units at
$10.00 per unit, representing $25,000,000 in additional proceeds.
As a result, an aggregate of 32,500,000 units have been sold by the
Company for total gross proceeds of $325,000,000.
Each unit consists of one share of common stock and one half of
one warrant, each whole warrant to purchase one share of common
stock at a price of $11.50. The offering is expected to close on
October 19, 2015, subject to customary closing conditions.
Capitol Acquisition Corp. III is a newly organized 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. Capitol Acquisition Corp. III is led
by Chairman and Chief Executive Officer Mark D. Ein and President
and Chief Financial Officer L. Dyson Dryden.
Citigroup, Deutsche Bank Securities and Credit Suisse are acting
as joint book-running managers of the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
October 13, 2015. The offering is being made only by means of a
prospectus, copies of which may be obtained from Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, Telephone: 1-800-831-9146, Email:
batprospectusdept@citi.com, Deutsche Bank Securities, 60 Wall
Street, New York, NY 10005-2836, Attention: Prospectus Group,
Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com or Credit
Suisse, One Madison Avenue, New York, NY 10010, Attention:
Prospectus Department, Telephone: (800) 221-1037, Email:
newyork.prospectus@credit-suisse.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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151015006768/en/
Capitol Acquisition Corp. IIIL. Dyson Dryden,
646-661-2002President and Chief Financial Officer
CAPITOL ACQUISITION CORP. III (NASDAQ:CLACU)
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