GHL Acquisition Corp. Announces Commencement of Common Stock Offering
05 September 2009 - 6:01AM
PR Newswire (US)
NEW YORK, Sept. 4 /PRNewswire-FirstCall/ -- GHL Acquisition Corp.
("GHL Acquisition") (NYX: GHQ, GHQ.U and GHQ.WS) announced today
that it has commenced an offering of 16,000,000 newly issued shares
of its common stock. It is expected that GHL Acquisition will grant
the underwriters an over-allotment option to purchase an additional
2,400,000 shares of GHL Acquisition's common stock. Raymond James
and Associates, Inc. will act as bookrunning manager for the
offering, RBC Capital Markets Corporation will act as co-lead
manager and Stifel, Nicolaus & Company, Incorporated will act
as co-manager for the offering. The closing of the offering is
subject to the closing of the proposed acquisition by GHL
Acquisition of Iridium Holdings LLC, which in turn is subject to
approval by the stockholders of GHL Acquisition. GHL Acquisition
intends to use the net proceeds of the offering to fund its
previously announced repurchases of shares of its common stock and
exchanges of warrants as well as for general corporate purposes.
The shares will be offered and sold pursuant to an effective shelf
registration statement that was previously filed with the
Securities and Exchange Commission. A preliminary prospectus
supplement and accompanying prospectus related to the offering have
been filed with the Securities and Exchange Commission and are
available on the SEC's website http://www.sec.gov/. Copies of the
prospectus supplement and accompanying prospectus for this offering
can be obtained without charge by directing a request to Raymond
James & Associates, Inc. at 880 Carillon Parkway, St.
Petersburg, FL 33716 or by telephone at (727) 567-2400. 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 offering
of these securities will be made only by means of the prospectus
supplement and accompanying prospectus. About GHL Acquisition Corp.
GHL Acquisition is a special purpose acquisition company launched
in February 2008 in an initial public offering raising $400 million
of gross proceeds. Founded by Greenhill & Co., GHL Acquisition
was formed for the purpose of acquiring, or acquiring control of,
through a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, one or
more businesses or assets. It currently has no operating
businesses. Forward-Looking Statements and Other Disclosure This
press release contains, and GHL Acquisition's management may make,
certain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. The words
"anticipates," "may," "can," "believes," "expects," "projects,"
"intends," "likely," "will," "to be" and other expressions that are
predictions of or indicate future events, trends or prospects
identify forward-looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of GHL Acquisition to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These risks and uncertainties
include, but are not limited to, uncertainties regarding the timing
of the proposed transaction with Iridium, whether the transaction
will be approved by GHL Acquisition's stockholders, whether the
closing conditions will be satisfied (including receipt of
regulatory approvals), as well as industry and economic conditions,
and competitive, legal, governmental and technological factors.
There is no assurance that GHL Acquisition's expectations will be
realized. If one or more of these risks or uncertainties
materialize, or if GHL Acquisition's underlying assumptions prove
incorrect, actual results may vary materially from those expected,
estimated or projected. GHL Acquisition's forward-looking
statements speak only as of the date of this press release or as of
the date they are made, and, except as required by law, GHL
Acquisition undertakes no obligation to update forward-looking
statements. This press release is for informational purposes only
and does not constitute an offer of any securities for sale.
Contact: James Babski GHL Acquisition Corp. +1-212-372-4180
DATASOURCE: GHL Acquisition Corp. CONTACT: James Babski of GHL
Acquisition Corp., , +1-212-372-4180
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