SAO PAULO, June 26, 2014 /PRNewswire/ -- Garnero Group
Acquisition Company (NASDAQ: GGACU) announced today that its
Registration Statement on Form S-1 (SEC File No. 333-196117) was
declared effective by the Securities and Exchange Commission. The
closing of the Company's initial public offering of 12,500,000
units is expected to be consummated on or about July 1, 2014. Each unit consists of one ordinary
share, par value $.0001 per share,
one right to automatically receive one-tenth of one ordinary share
upon consummation of an initial business combination and one
warrant entitling the holder to purchase one-half of one ordinary
share at a price of $11.50 per full
share commencing on the later of the Company's completion of its
initial business combination or June 25,
2015. Each Unit will be sold at an offering price of
$10.00 per unit for aggregate gross
proceeds of $125,000,000.
EarlyBirdCapital, Inc. acted as Sole Book Runner and Managing
Underwriter for the offering. Aegis Capital, Ladenburg Thalmann and
I-Bankers were Co-Underwriters. The offering is being made only by
means of a prospectus, copies of which may be obtained from
EarlyBirdCapital, Inc., with Aimee
Bloch, (+1-212-661-0200).
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
June 25, 2014. This press release
shall not constitute an offer to sell or a 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.
Garnero Group Acquisition Company is a newly formed blank check
company organized for the purpose of effecting a merger, capital
stock exchange, asset acquisition or other similar business
combination with one or more businesses or entities. The Company's
efforts to identify a prospective target business will not be
limited to any particular industry or geographic region, however
the Company intends to initially focus on target businesses located
in Latin America (specially
Brazil) or Europe operating in the energy (including
renewables) and biotechnology industries or target businesses in
such industries operating outside of those geographic locations
which the Company believes would benefit from expanding their
operations to such locations.
Contact:
Javier Martin
Riva
Chief Financial Officer
Garnero Group Acquisition Company
+(55)-1130947970