Bison Capital Acquisition Corp. Completes $52,500,000 Initial Public Offering
24 June 2017 - 8:13AM
Bison Capital Acquisition Corp. (Nasdaq:BCACU) ("Bison" or the
"Company"), a company formed for the purpose of entering into a
merger, share exchange, asset acquisition or other similar business
combination with one or more businesses or entities, today
announced the closing of its initial public offering (IPO) of
5,250,000 units at $10.00 per unit, raising gross proceeds of
$52,500,000. The units commenced trading on Tuesday, June 20,
2017 on The NASDAQ Capital Market ("Nasdaq") under the symbol
"BCACU." Each unit issued in the initial public offering consists
of one ordinary share, one right to receive one-tenth of an
ordinary share on the consummation of an initial business
combination, and one warrant to acquire one-half of one ordinary
share at $11.50 per full share. Once the securities comprising the
units begin separate trading, the shares, warrants and rights are
expected to be traded on Nasdaq under the symbols "BCAC," "BCACW"
and "BCACR," respectively.
EarlyBirdCapital, Inc. acted as sole
book-running manager for the offering and Charden, I-Bankers
Securities, acted as co-manager for the offering. Bison has granted
the underwriters a 30-day option to purchase up to 787,500
additional units to cover over-allotments.
Of the proceeds received from the consummation
of the initial public offering and a simultaneous private placement
of units, $53,812,500 or $10.25 per unit was placed in trust. An
audited balance sheet of the Company as of June 23, 2015 reflecting
receipt of the proceeds upon consummation of the IPO 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 SEC.
Hunter Taubman Fischer & Li LLC acted as
U.S. counsel to the Company, Ogier acted as British Virgin Islands
counsel to the Company and Graubard Miller acted as counsel to the
underwriters.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on June 19, 2017. This press release shall not
constitute an offer to sell or the 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.
This offering was made only by means of a
prospectus. Copies of the prospectus relating to this offering may
be obtained by contacting EarlyBirdCapital, Inc., 366 Madison
Avenue, 8th Floor, New York, New York 10017. Copies of the
registration statement can be accessed through the SEC's website at
www.sec.gov.
About Bison
Bison is a blank check company, also commonly
referred to as a Special Purpose Acquisition Company (SPAC), formed
for the purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, purchasing all or substantially
all of the assets of, entering into contractual arrangements, or
engaging in any other similar business combination with one or more
businesses or entities. The Company's efforts to identify a target
business will not be limited to a particular industry or geographic
region, with focus on business located in Asia and North America in
the healthcare, consumer services and media/entertainment
industries. Bison is being sponsored by Bison Capital Holding
Company Limited.
Forward-Looking Statements
This press release includes "forward-looking
statements" that are not historical facts, and involve risks and
uncertainties that could cause actual results to differ materially
from those expected and projected. Words such as "expects",
"believes", "anticipates", "intends", "estimates", "seeks" and
variations and similar words and expressions are intended to
identify such forward-looking statements. Such forward-looking
statements relate to future events or future performance, but
reflect Bison management's current beliefs, based on information
currently available. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements. For information identifying important factors that
could cause actual results to differ materially from those
anticipated in the forward looking statements, please refer to the
Risk Factors section of Bison's final prospectus for its offering
filed with the Securities and Exchange Commission. Except as
expressly required by applicable securities law, the Company
disclaims any intention or obligation to update or revise any
forward looking statements whether as a result of new information,
future events or otherwise.
Bison Capital Acquisition Corp.
+1 9493506999
James J. Tong
CEO
jamestong@bisonholding.com
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