NEW YORK, Feb. 21, 2019 /PRNewswire/ -- Wealthbridge
Acquisition Limited (NASDAQ: HHHHU, the "Company") announced today
that the underwriters in its
initial public offering, pursuant to the terms of the underwriting
agreement, exercised in full their previously announced option to
purchase 750,000 units to cover over-allotments, and, on
February 21, 2019, purchased these
additional units, generating additional gross proceeds of
$7,500,000.
The total aggregate issuance by the Company of 5,750,000 units
at a price of $10.00 per unit
resulted in total gross proceeds of $57,500,000.
Each unit consists of one ordinary share, one warrant to
purchase one-half of one ordinary share at a price of $11.50 per whole share, and one right to receive
one-tenth of one ordinary share upon the consummation of the
Company's initial business combination. Once the securities
comprising the units begin separate trading, the ordinary shares,
rights and warrants are expected to be listed on NASDAQ under the
symbols "HHHH," "HHHHR," and "HHHHW," respectively.
Chardan acted as sole book running manager in the
offering. CIM Securities, LLC acted as co-manager.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
February 5, 2019. The offering is
being made only by means of a prospectus, copies of which may be
obtained by contacting Chardan Capital Markets, LLC, 17 State
Street, 21st floor, New York, New
York 10004. Copies of the registration statement can be
accessed through the SEC's website at www.sec.gov.
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.
About Wealthbridge Acquisition Limited
Wealthbridge Acquisition Limited is a British Virgin Islands company incorporated as
a blank check company for the purpose of entering into a merger,
share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities. Wealthbridge'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 on operating businesses in and around the air
transportation and aviation industry in China.
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.
Yongsheng Liu
Wealthbridge Acquisition Limited
(86) 186-0217-2929
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SOURCE Wealthbridge Acquisition Limited
