DHB Capital Corp. Announces Closing of Over-Allotment Option in Connection with its Initial Public Offering
18 March 2021 - 11:20PM
DHB Capital Corp. (Nasdaq: DHBCU) (the “Company”) announced the
closing of the issuance of an additional 3,750,000 units pursuant
to the full exercise of the underwriters’ over-allotment option in
connection with the Company’s initial public offering. The
additional units were sold at the initial offering price of $10.00
per unit, resulting in additional gross proceeds of $37,500,000 and
bringing the total gross proceeds of the initial public offering to
$287,500,000.
The Company’s units began trading on the Nasdaq
Stock Market under the ticker symbol “DHBCU” on Tuesday, March 2,
2021. Each unit consists of one share of the Company’s Class A
common stock and one-third of one redeemable warrant. Each whole
warrant entitles the holder thereof to purchase one share of the
Company’s Class A common stock at a price of $11.50 per share. Once
the securities comprising the units begin separate trading, the
Class A common stock and warrants are expected to be listed on the
Nasdaq Stock Market under the symbols “DHBC” and “DHBCW,”
respectively.
The Company is a blank check company formed for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any industry, it
currently intends to concentrate its efforts in identifying
businesses in the financial and business services industry, with a
focus on differentiated financial services and financial
services-adjacent platforms. The Company is led by Richard M.
DeMartini, Co-Executive Chairman, Robert J. Hurst, Co-Executive
Chairman, and Alex Binderow, Chief Executive Officer, President and
Director.
BofA Securities and RBC Capital Markets, LLC acted
as joint book-running managers.
Of the proceeds received from the consummation of
the initial public offering (as well as the exercise of the option
to purchase additional units) and related private placements of
warrants, $287,500,000 (or $10.00 per unit sold in the public
offering) was placed in trust.
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from BofA
Securities, Attention: Prospectus Department, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001, or by
emailing dg.prospectus_requests@bofa.com; or RBC Capital Markets,
LLC, Attn: RBC Capital Markets, LLC, Attn: Equity Syndicate, 200
Vesey Street, 8th Floor, New York, New York 10821, telephone: (877)
822-4089 or email: equityprospectus@rbccm.com.
A registration statement relating to the securities
sold in the initial public offering has been filed with, and
declared effective by, the Securities and Exchange Commission
(“SEC”) on Monday, March 1, 2021. 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. The securities
sold in the private placement have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements of such Act and applicable state
securities laws.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the initial public offering and the anticipated use of the net
proceeds thereof. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and prospectus for the
Company’s offering filed with the SEC. Copies are available on the
SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact
Alex BinderowChief Executive Officer and
PresidentDHB Capital Corp.Tel: (646) 450-5664Email:
abinderow@dhbcap.com
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