NEW YORK, Dec. 16, 2016 /PRNewswire/ -- In connection with
the special meeting of its stockholders scheduled to occur at
10:00 a.m., Eastern time, on
December 21, 2016 with respect to the
proposal, among other things, to approve its business combination
with Inspired Gaming Group ("Inspired"), 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 it 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 to the close of business
on December 20, 2016. The
special meeting will be held at the offices of Kramer Levin Naftalis & Frankel LLP, located
at 1177 Avenue of the Americas, New York,
New York 10036.
Stockholders who have not submitted a proxy for use at the
special meeting 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.
Additional Information About the Transaction and Where to
Find It
Stockholders are urged to read the proxy statement in connection
with the special meeting. Hydra's SEC filings, including the proxy
statement, can be obtained without charge on the SEC's website
at www.sec.gov and on Hydra's website
at www.hydraspac.com. The Company and its directors and
executive officers may be deemed to be participants in a
solicitation of proxies for the special meeting of stockholders to
be held to approve the proposed business combination. 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 proposed business combination, and if given
or made, such other information or representations must not be
relied upon as having been made or authorized by the Company.
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 27 countries. Macquarie employs
approximately 13,800 people and has assets under management of over
$377 billion (as of September 30, 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.
Contact:
For Hydra: Contact George Peng,
Chief Financial Officer, (646) 565-6940