DT Asia Investments Limited Announces Consummation of Over-Allotment Exercise in Connection with Its Initial Public Offering
October 15 2014 - 11:39AM
Business Wire
DT Asia Investments Limited (Nasdaq:CADTU) ("DT Asia" or
the "Company") announced today that the underwriters of its initial
public offering have exercised their over-allotment option to
purchase 860,063 units and that the closing of the sale of such
units has taken place. The option units were sold at an offering
price of $10.00 per unit, generating additional gross proceeds of
$8,600,630 to the Company and bringing the total gross proceeds of
the initial public offering to $68,600,630. In connection with the
over-allotment option exercise, DeTiger Holdings Limited, the
Company’s sponsor, and EarlyBirdCapital, Inc., the sole book
running manager for the offering purchased additional units and
warrants through simultaneous private placements.
Of the proceeds received from the consummation of the
over-allotment option exercise and simultaneous private placements
of units and warrants, $8,772,642.60 was placed in trust, for a
total of $69,972,642.60 (or $10.20 per share sold in the public
offering) held in trust. A pro forma balance sheet of the Company
as of October 14, 2014 reflecting receipt of the proceeds upon
consummation of the over-allotment option and the private
placements 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.
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 only by means of a prospectus. Copies of
the prospectus relating to this offering may be obtained by
contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor,
New York, New York 10017. Copies of the registration statement can
be accessed through the SEC's website at www.sec.gov.
About DT Asia
DT Asia is a blank check company, also commonly referred to as a
Special Purpose Acquisition Company, or SPAC, formed for the
purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, purchasing all or substantially
all of the assets of, entering into contractual arrangements, or
engaging in any other similar business combination with one or more
businesses or entities. The Company's efforts to identify a target
business will not be limited to a particular industry or geographic
region, although it intends to focus efforts on seeking a business
combination with a company or companies that have their primary
operations located in Asia, with an emphasis on China. DT Asia is
being sponsored by DeTiger Holdings Limited, which is controlled by
Ms. Winnie Ng.
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 DT Asia
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 DT Asia's final 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.
DT Asia Investments LimitedStephen N Cannon+1 212 880-2677 or
+852 2110-0081Chief Executive Officersteve@DTAsiaInvest.comorEmily
TongChairman of the Boardemily@DTAsiaInvest.com
DT ASIA INVESTMENTS LTD (NASDAQ:CADTU)
Historical Stock Chart
From Oct 2024 to Nov 2024
DT ASIA INVESTMENTS LTD (NASDAQ:CADTU)
Historical Stock Chart
From Nov 2023 to Nov 2024
