Hennessy Capital Acquisition Corp. III Prices $225M IPO

6/22/17

NEW YORK--(BUSINESS WIRE)--Hennessy Capital Acquisition Corp. III announced today that it priced its initial public offering of 22,500,000 units at $10.00 per unit, for gross proceeds of $225,000,000.

Each unit issued in the offering consists of one share of the Company’s common stock and three-quarters of one warrant. Each whole warrant entitles its holder to purchase one share of the Company’s common stock at a price of $11.50 per share. In connection with this offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units to cover any over-allotments in the offering.

The units are expected to begin trading on Friday, June 23, 2017 on the NYSE MKT under the symbol “HCAC.U”. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the NYSE under the symbols “HCAC” and “HCAC WS”, respectively.

Hennessy Capital Acquisition Corp. III is a newly organized blank check company founded by Daniel J. Hennessy and 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. The Company's acquisition and value creation strategy will be to identify, acquire, and, after its initial business combination, build an industrial manufacturing, distribution or services business. The Company has not selected any specific business combination target and it has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.