NEW YORK-Wednesday 23 October 2019 [ AETOS Wire ]
(BUSINESS WIRE) -- Union Acquisition Corp. II (NASDAQ: LATNU) (the “Company”)
announced today that it closed its initial public offering of
20,000,000 units, including 2,500,000 units subject to the underwriters’
over-allotment option, at $10.00 per unit. The offering was priced at
$10.00 per unit, resulting in gross proceeds of $200,000,000.
The
Company’s units began trading on the Nasdaq Capital Market (“Nasdaq”)
under the symbol “LATNU” on October 18, 2019. Each unit consists of one
ordinary and one redeemable warrant with each warrant entitling the
holder to purchase one ordinary share at a price of $11.50 per share.
Once the securities comprising the units begin separate trading, the
ordinary shares and warrants are expected to be traded on Nasdaq under
the symbols “LATN” and “LATNW”, respectively.
Cantor
Fitzgerald & Co. acted as the sole book-running manager of the
offering. EXOS Securities, LLC and Arcadia Securities, LLC acted as
co-managers.
Of
the proceeds received from the consummation of the initial public
offering and a simultaneous private placement of warrants, $200,000,000
(or $10.00 per unit sold in the public offering) was placed in trust. An
audited balance sheet of the Company as of October 22, 2019 reflecting
receipt of the proceeds upon consummation of the initial public offering
and the private placement will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the Securities and
Exchange Commission (“SEC”).
Graubard Miller acted as counsel to the Company and Ellenoff Grossman & Schole LLP acted as counsel to the underwriters.
The
offering is being made only by means of a prospectus. Copies of the
prospectus may be obtained by contacting Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New
York 10022; Email: prospectus@cantor.com. Copies of the prospectus can also be accessed through the SEC’s website at www.sec.gov.
A
registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission on October 17, 2019.
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 Union Acquisition Corp. II
Union
Acquisition Corp. II, led by Juan Sartori and Kyle Bransfield, is a
Cayman Islands exempted company incorporated as a blank check company
for the purpose of entering into a merger, share exchange, asset
acquisition, share 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, although the
Company intends to focus its search for a target business located in
Latin America.
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 are subject to
risks and uncertainties, which could cause actual results to differ from
the forward looking statements, including those set forth in the risk
factors section of the prospectus used in connection with the Company’s
initial public offering. No assurance can be given that the net proceeds
of the offering will be used as indicated. 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, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191022006025/en/
Contacts
Kyle P. Bransfield
Chief Executive Officer
Union Acquisition Corp. II
(212) 981-0630
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