Attached files
Exhibit 99.1
Big Rock Partners Acquisition Corp. Announces Pricing of $60
Million Initial Public Offering
NEW YORK, NY / ACCESSWIRE / November 20, 2017 / Big Rock Partners Acquisition Corp. (NASDAQ:
BRPAU) (the "Company" or "Big Rock Partners") today announced the
pricing of its initial public offering of 6,000,000 units at $10.00
per unit. Each unit consists of one share of common stock, one half
of one warrant, each whole warrant exercisable to purchase one
share of common stock at a price of $11.50 per whole share, and one
right to receive one-tenth of one share of common stock upon the
consummation of the Company's initial business
combination.
The units are expected to begin trading later today shortly after
the issuance of this press release on the NASDAQ Capital Market
under the symbol "BRPAU." Once the securities comprising the units
begin separate trading, the common stock, warrants, and rights are
expected to be listed on the NASDAQ Capital Market under the
symbols "BRPA," "BRPAW," and "BRPAR," respectively. Separate
trading of the units is expected to occur on February 20, 2018,
unless EarlyBirdCapital, Inc., the underwriters' representative,
informs the Company of its decision to allow earlier separate
trading. The underwriters have been granted a 45-day option to
purchase up to an additional 900,000 units offered by the Company
to cover over-allotments if any. The offering is expected to close
on November 22, 2017, subject to customary closing
conditions.
Big Rock Partners is a blank check company formed for the purpose
of entering into a merger, stock exchange, asset acquisition, stock
purchase, recapitalization, reorganization, or other similar
business combination with one or more businesses or entities.
Although the Company's search for a target business is not limited
to a particular industry or geographic region, it intends to
initially focus its search on identifying a prospective target
business in the senior housing and care industry in the United
States. Big Rock Partners' management team includes Richard
Ackerman, Chairman, President, and Chief Executive Officer, Lori
Wittman, Chief Financial Officer and Treasurer, and Bennett Kim,
Chief Investment Officer and Corporate Secretary.
EarlyBirdCapital acted as sole book-running manager and I-Bankers
Securities, Inc. acted as co-manager of the offering.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on November 20,
2017. The offering is being made only by means of a prospectus,
copies of which may be obtained by contacting EarlyBirdCapital,
Inc., 366 Madison Avenue, 8th Floor, New York, New York 10017,
Attn: Syndicate Department, 212-661-0200. Copies of the
registration statement can be accessed through the SEC's website
at www.sec.gov.
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 an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements:
This press release includes forward-looking statements that involve
risks and uncertainties. Forward-looking statements are statements
that are not historical facts. Such forward-looking statements,
including statements regarding the successful consummation of the
Company's initial public offering, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based, except as required by
law.
Contact:
Big Rock Partners Acquisition Corporation
Dawn Langford
(310) 734-2344
dlangford@bigrockpartners.com
SOURCE: Big Rock Partners
Acquisition Corp.