UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant
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Filed by a Party other than the Registrant
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Check the appropriate box:
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Under Rule 14a-12
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HYDRA
INDUSTRIES ACQUISITION CORP.
(Name of Registrant as Specified in Its Charter)
(Name of Persons(s) Filing Proxy Statement,
if Other Than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11.
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Title of each class of securities to which transaction applies:
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Aggregate number of securities to which transaction applies:
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
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Proposed maximum aggregate value of transaction:
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Total fee paid:
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Fee paid previously with preliminary materials.
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Check box if any part of the fee is offset as provided
by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule and the date of its filing.
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Amount Previously Paid:
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Form, Schedule or Registration Statement No.:
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Date Filed:
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HYDRA
INDUSTRIES ACQUISITION CORP.
ANNOUNCES
INTENTION TO MAKE SPECIAL CONTRIBUTION TO TRUST ACCOUNT UPON APPROVAL OF EXTENSION BY STOCKHOLDERS AT UPCOMING SPECIAL MEETING;
AND INTENTION TO ADJOURN SCHEDULED SPECIAL MEETING OF
STOCKHOLDERS TO OCTOBER
27
New
York, New York, October 21, 2016 / PRNewswire/ — Hydra Industries Acquisition Corp. (“Hydra” or the “Company”)
(NASDAQ: HDRA, HDRAU, HDRAW, HDRAR), a special purpose acquisition company formed for the purpose of effecting a merger, acquisition
or similar business combination, announced that its sponsors have agreed that they or their affiliates will contribute to Hydra
as a loan (the “Contribution”) $0.05 for each public share that is not redeemed by its stockholders in connection with
its upcoming special meeting of stockholders that is being held to extend the date by which Hydra must complete its initial business
combination (the “Extension”) from October 29, 2016 to December 29, 2016. Upon receipt of the Contribution, the Company
will deposit such funds into its trust account, which will increase the pro rata portion of the funds available in the trust account
in the event of the consummation of the Company’s initial business combination or liquidation from approximately $10.00 per
share to approximately $10.05 per share. The Contribution will not be implemented if the Extension is not approved.
The
purpose of the Extension is to allow Hydra additional time to complete the business combination, previously disclosed on July 14,
2016, with Inspired Gaming Group (“Inspired”), a leading global games technology company headquartered in London, United
Kingdom.
The
Company also announced that it intends to adjourn, without conducting any business, the special meeting scheduled to occur at 10:00
a.m., Eastern time, on October 25, 2016, and reconvene at 10:00 a.m., Eastern time, on October 27, 2016, to vote on the proposals
described in the proxy statement filed by the Company with the Securities and Exchange Commission (“SEC”) on October
12, 2016. The special meeting will still be held at the offices of Kramer Levin Naftalis & Frankel LLP, located at 1177 Avenue
of the Americas, New York, New York 10036.
In
connection with the adjournment of the special meeting, the Company is extending the deadline for holders of the Company’s
common stock to exercise their right to redeem their shares for their pro rata portion of the funds available in the Company’s
trust account in connection with the Charter Amendment and the Trust Amendment, or to withdraw any previously delivered demand
for redemption, to the close of business on October 25, 2016 (two business days before the special meeting).
If
you have not submitted a proxy for use at the special meeting, you are urged to do so promptly. No action is required by any stockholder
who has previously delivered a proxy and who does not wish to revoke or change that proxy.
Information
about voting or revoking a proxy is included in the proxy statement filed by the Company with the SEC on October 12, 2016, which
is available without charge on the SEC’s website at http://www.sec.gov.
Forward
Looking Statements
This
press release contains “forward-looking statements” within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook", and
"project" and other similar expressions that predict or indicate future events or trends or that are not
statements
of historical matters. Such forward-looking statements include statements concerning the potential business combination and the
Special Meeting. These statements are based on Hydra’s management’s current expectations and beliefs, as well as a
number of assumptions concerning future events.
Such
forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many
of which are outside of Hydra’s control that could cause actual results to differ materially from the results discussed in
the forward-looking statements. Additional factors that could cause actual results to differ materially from those expressed or
implied in forward-looking statements can be found in Hydra’s most recent annual report on Form 10-K and subsequently filed
quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website
at www.sec.gov.
About
Hydra Industries Acquisition Corp.
Hydra
is a blank check company formed for the purpose of effecting a merger or other business combination with a target company.
Hydra was founded by gaming industry veteran Lorne Weil and raised $80 million on October 29, 2014 in its Initial Public
Offering. In addition, Macquarie Capital co-sponsored Hydra’s efforts to source acquisitions and provided a $20 million
forward equity commitment which, with Hydra’s existing cash in trust, will be used to fund the proposed
transaction.
Additional
information can be found at
www.hydraspac.com
.
About
Macquarie and Macquarie Capital
Macquarie
Group ("Macquarie") is a global provider of banking, financial, advisory, investment and funds management services. Macquarie's
main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional,
corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations
in 28 countries. Macquarie employs approximately 14,000 people and has assets under management of over $367.4 billion (as of March
31, 2016).
Macquarie
Capital comprises Macquarie Group's corporate advisory, capital markets and principal investing capabilities. Macquarie Capital's
expertise spans a variety of industry sectors, including telecommunications, media, entertainment, gaming, financial institutions,
industrials, energy, resources, real estate, infrastructure, utilities and renewables.
The
Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special
meeting of stockholders to be held to approve the extension proposal. Information regarding the Company's directors and executive
officers is available in its Form 10-K for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission.
No person other than the Company has been authorized to give any information or to make any representations on behalf of the Company
in connection with the extension, and if given or made, such other information or representations must not be relied upon as having
been made or authorized by the Company.
Contact:
For
Hydra: Contact Martin Schloss, General Counsel, (646) 565-6938
Hydra Industries Acquisition Corp. (NASDAQ:HDRA)
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