NEW YORK–(BUSINESS WIRE)–Hennessy Capital Acquisition Corp. III (NYSE MKT: HCAC.U) (the “Company”) announced today the closing of its initial public offering of 22,500,000 units at an initial public offering price of $10.00 per unit, with the offering raising gross proceeds of $225 million. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units to cover over-allotments, if any, in the offering. The Company’s units are listed on the NYSE MKT under the trading symbol “HCAC.U”. 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 to purchase one share of common stock at an exercise price of $11.50 per share. Credit Suisse Securities (USA) LLC and Stifel, Nicolaus & Company, Incorporated acted as joint book-runners for the offering. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the NYSE MKT 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.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 22, 2017. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor…