Osprey Energy Acquisition Corp. Announces Completion of $250,000,000 Initial Public Offering
26 Julio 2017 - 3:15PM
Osprey Energy Acquisition Corp. (NASDAQ:OSPRU) (the “Company”), an
energy-focused special purpose acquisition entity formed for the
purpose of entering into a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses, today completed its
initial public offering of 25,000,000 units at a price of $10.00
per unit for gross proceeds to the Company of $250,000,000. The
Company’s units began trading on July 21, 2017 on the Nasdaq
Capital Market under the symbol “OSPRU”. Each unit issued in the
offering consists of one share of the Company’s common stock and
one-half of one warrant, each whole warrant is exercisable for one
share of common stock at an exercise price of $11.50 per share. No
fractional warrants will be issued upon separation of the units and
only whole warrants will trade. Once the securities comprising the
units begin separate trading, the common stock and warrants are
expected to be listed on the Nasdaq Capital Market under the ticker
symbols “OSPR” and “OSPRW,” respectively.
Credit Suisse Securities (USA) LLC served as the sole
book-running manager and I-Bankers Securities, Inc. served as
co-manager for the offering. The Company has granted the
underwriters a 45-day option to purchase up to an additional
3,750,000 units at the initial public offering price to cover
over-allotments, if any.
A registration statement relating to the units and the
underlying securities was declared effective by the U.S. Securities
and Exchange Commission on July 20, 2017. 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.
This offering was made by means of a prospectus, copies of which
may be obtained for free by visiting the U.S. Securities and
Exchange Commission website at http://www.sec.gov. Alternatively, a
copy of the prospectus relating to the offering may be obtained
from Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, One Madison Avenue, New York, NY 10010, or by telephone
at (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com.
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus for the offering
filed with the U.S. Securities and Exchange Commission. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact Information:
Jeffrey F. Brotman
Chief Financial Officer, Chief Legal Officer and Secretary
Osprey Energy Acquisition Corp.
(215) 523-6161
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