NEW YORK, Aug. 10, 2016 /PRNewswire/
-- Barington/Hilco Acquisition Corp. (Nasdaq: BHACU), a blank
check acquisition company (the "Company"), announced today that, in
accordance with the terms set forth in its IPO prospectus, the
Company has deposited $100,000 into
its trust account held at Continental Stock Transfer & Trust
Company for the benefit of its public stockholders in order to
extend the date by which it must complete a business combination by
three months, from August 11, 2016 to
November 11, 2016. In order to
fund the deposit, the Company has obtained loans from its sponsors,
affiliates of both Barington Capital Group, L.P. and Hilco
Global. The loans are evidenced by promissory notes that are
payable upon the consummation of a business combination by the
Company, either in cash or, at each sponsor's discretion, by
conversion into private units of the Company.
About Barington/Hilco Acquisition Corp.
Barington/Hilco Acquisition Corp. is a blank check company
formed under the laws of the State of
Delaware for the purpose of entering into a merger, share
exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination. The Company's
efforts to identify target businesses are not limited to a
particular industry or geographic region.
Forward-Looking Statements
This press release includes "forward-looking statements" that
are not historical facts, and involve risks and uncertainties that
could cause actual results to differ materially from those expected
and projected. Words such as "expects", "believes", "anticipates",
"intends", "estimates", "seeks" and variations and similar words
and expressions are intended to identify such forward-looking
statements. Such forward-looking statements relate to future events
or future performance, but reflect the Company's management's
current beliefs, based on information currently available. A number
of factors could cause actual events, performance or results to
differ materially from the events, performance and results
discussed in the forward-looking statements. For information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward-looking
statements, please refer to the Risk Factors section of the
Company's prospectus for its offering filed with the Securities and
Exchange Commission. Except as expressly required by applicable
securities law, the Company disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events, or otherwise.
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SOURCE Barington/Hilco Acquisition Corp.