NEW YORK, Aug. 4, 2015 (GLOBE NEWSWIRE) -- Hennessy Capital Acquisition Corp. II (Nasdaq:HCACU) (the "Company") announced today that the underwriters of its initial public offering have exercised their over-allotment option to purchase 2,459,908 units (the "Over-Allotment Units") and that the Company has closed the sale of such Over-Allotment Units. The Over-Allotment Units were sold at an offering price of $10.00 per unit, generating additional gross proceeds of approximately $25 million to the Company and bringing the total gross proceeds of the initial public offering to approximately $200 million. In connection with the exercise of the over-allotment option, Hennessy Capital Partners II LLC, the Company's sponsor, purchased 1,180,756 additional warrants through a simultaneous private placement.
Of the proceeds received from the consummation of the over-allotment option and the simultaneous private placement of warrants, approximately $25 million was placed in trust, for a total of approximately $200 million held in trust. A pro forma balance sheet of the Company reflecting receipt of the proceeds upon consummation of the over-allotment option 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.
Hennessy Capital Acquisition Corp. II 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.
A registration statement relating to these units and the underlying securities was declared effective by the Securities and Exchange Commission on July 22, 2015. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any 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 state or jurisdiction.
The offering was made only by means of a prospectus, copies of which may be obtained from: UBS Investment Bank, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, tel.: (888) 827-7275; Cantor Fitzgerald & Co., 499 Park Avenue, New York, New York 10022, Attn: Kevin Brennan, email@example.com, tel.: (212) 915-1970; and BMO Capital Markets Corp., 3 Times Square, 27th Floor, New York, New York 10036, Attn: BMO Prospectus Dept., tel.: (800) 414-3627.
Information Concerning Forward-Looking Statements
This news release may include "forward-looking statements." All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with the Company's expectations and predictions is subject to a number of risks and uncertainties, including, but not limited to the following: changes in general economic, market or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by the Company; changes in laws or regulations; and other factors, many of which are beyond the control of the Company. Information concerning these and other factors can be found in the Company's filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by the Company will be realized, or even if realized, that they will have the expected consequences to or effects on the Company, its business or operations. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise, except as required by law.
Source:Hennessy Capital Acquisition Corp.II