CHICAGO and WASHINGTON, June 29,
2017 /PRNewswire/ -- The parent company of Cision, a
leading global provider of cloud-based earned media solutions, and
Capitol Acquisition Corp. III (NASDAQ: CLAC; "Capitol 3"), a
publicly traded investment vehicle, today announced the closing of
their merger following the receipt of stockholder approval at
Capitol 3's annual meeting held today. In connection with the
consummation of the merger, the combined company was renamed Cision
Ltd., and anticipates that starting on June
30, 2017, its ordinary shares and warrants will begin
trading on the New York Stock Exchange and NYSE MKT under the
symbols CISN and CISN WS, respectively.
"We are excited to have closed our merger with Cision and
appreciate our investors for their support of this transaction,"
said Mark D. Ein, Chairman and Chief
Executive Officer of Capitol 3. "As a market leader providing
integrated SAAS-based solutions for the growing and increasingly
important earned media industry, Cision is exactly the type of
investment opportunity we were looking for that should deliver
superior long-term returns for shareholders." Cision represents the
Capitol team's third successful SPAC transaction following the
creation of Two Harbors Investment Corp. (NYSE: "TWO") and merger
with Lindblad Expeditions, Inc. (NASDAQ: "LIND").
"Becoming a publicly listed company through the merger with
Capitol will further accelerate our technology innovation in the
communications and PR industries, enabling Cision to execute on our
growth plan," said Cision CEO Kevin
Akeroyd. "Our software platform, the Cision Communications
Cloud, is transforming the way companies communicate with
journalists, influencers and consumers by applying data driven
techniques to enable targeted and measurable earned media
campaigns."
As previously announced, Cision's management team, led by CEO
Kevin Akeroyd and CFO Jack Pearlstein, will continue to run the
combined company. In connection with the transaction, Capitol's
stockholders elected seven directors to serve on the board of the
combined company: Mark M. Anderson
who will serve as Chairman, Mark D.
Ein, who will serve as Vice Chairman, as well as
Kevin Akeroyd, Philip A. Canfield, L.
Dyson Dryden, Stephen P.
Master, and Stuart Yarbrough,
who will serve as directors.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and
Credit Suisse served as financial and capital markets advisors to
Capitol. PJT Partners served as financial advisor to
Cision. Latham & Watkins LLP and Graubard Miller acted as
legal advisors to Capitol and Kirkland & Ellis LLP acted as
legal advisor to Cision.
About Capitol Acquisition Corp. III
Capitol Acquisition Corp. III was a publicly traded investment
vehicle formed for the purpose of effecting a merger, acquisition
or similar business combination. Capitol was led by Chairman and
Chief Executive Officer Mark D. Ein,
and President and Chief Financial Officer L. Dyson Dryden. Capitol's securities were
quoted on the Nasdaq stock exchange under the ticker symbols CLAC,
CLACW and CLACU. The company, which raised $325 million of cash proceeds in an initial
public offering in October 2015, is
the team's third publicly traded investment vehicle. The first,
Capitol Acquisition Corp., created Two Harbors Investment Corp.
(NYSE: "TWO"), a leading mortgage real estate investment trust
(REIT) and the second, Capitol Acquisition Corp. II, merged with
Lindblad Expeditions, Inc. (NASDAQ: "LIND"), a global leader in
expedition travel.
About Cision
Cision is a leading media communication technology and analytics
company that enables marketers and communicators to effectively
manage their earned media programs in coordination with paid and
owned channels to drive business impact. As the creator of the
Cision Communications Cloud™, the first-of-its-kind earned media
cloud-based platform, Cision has combined cutting-edge data,
analytics, technology and services into a unified communication
ecosystem that brands can use to build consistent, meaningful and
enduring relationships with influencers and buyers in order to
amplify their marketplace influence. Cision solutions also include
market-leading media technologies such as PR Newswire, Gorkana,
PRWeb, Help a Reporter Out (HARO) and iContact. Cision serves over
75,000 customers in 170 countries and 40 languages worldwide, and
maintains offices in North
America, Europe, the
Middle East, Asia, and Latin
America. For more information, visit www.cision.com or
follow @Cision on Twitter.
Safe Harbor
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Actual results
may differ from expectations, estimates and projections and,
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "continue," and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results.
Additional information concerning these and other risk factors
is contained in Capitol's most recent filings with the Securities
and Exchange Commission ("SEC"). All subsequent written and oral
forward-looking statements concerning Capitol and Cision, the
merger, the related transactions or other matters and attributable
to Capitol and Cision or any person acting on their behalf are
expressly qualified in their entirety by the cautionary statements
above. Capitol and Cision caution readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Capitol and Cision do not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
their expectations or any change in events, conditions or
circumstances on which any such statement is based.
Contact:
Nick Bell
Vice President of Communications
Cision
cisionpr@cision.com
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SOURCE Capitol Acquisition Corp. III; Cision