Thunder Bridge Acquisition II, Ltd. Announces Closing of $345,000,000 Initial Public Offering
14 August 2019 - 7:05AM
Thunder Bridge Acquisition II, Ltd. (NASDAQ: THBRU) (the “Company”)
announced today that it closed its initial public offering of
34,500,000 units, including 4,500,000 Units issued pursuant to the
exercise in full of the underwriters' over-allotment option. The
offering was priced at $10.00 per unit, resulting in gross proceeds
of $345,000,000.
The Company’s units are listed on the Nasdaq
Capital Market (“Nasdaq”) and commenced trading under the ticker
symbol “THBRU” on August 9, 2019. Each unit consists of one of the
Company’s Class A ordinary shares and one-half of one redeemable
warrant, each whole warrant entitling the holder thereof to
purchase one Class A ordinary share at a price of $11.50 per share.
Only whole warrants will trade and are exercisable. Once the
securities comprising the units begin separate trading, the Class A
ordinary shares and warrants are expected to be traded on Nasdaq
under the symbols “THBR” and “THBRW,” respectively.
The Company is a blank check company formed for
the purpose of effecting a merger, share 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 business or
industry, it intends to focus its search on companies in the
financial technology sector. The Company is led by Chief Executive
Officer Gary A. Simanson.
Morgan Stanley & Co. LLC and Cantor
Fitzgerald & Co. acted as joint book running managers for the
offering.
Of the proceeds received from the consummation
of the initial public offering and a simultaneous private placement
of warrants, $345,000,000 (or $10.00 per unit sold in the public
offering) was placed in trust. An audited balance sheet of the
Company as of August 13, 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.
Ellenoff Grossman & Schole LLP acted as
counsel to the Company and Ropes & Gray LLP acted as counsel to
the underwriters.
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014 or Cantor Fitzgerald &
Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New
York, New York 10022; Email: prospectus@cantor.com. A
registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange
Commission on August 8, 2019. 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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
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. No assurance can be given that the net proceeds of the
offering will be used as indicated. 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 offering filed with the Securities and Exchange
Commission (“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.
ContactGary A.
Simanson202.431.0507 gsimanson@thunderbridge.us
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