Attached files
Exhibit 99.2
Big Rock Partners Acquisition Corp. Completes $60 Million Initial
Public Offering
DELRAY BEACH, FL / ACCESSWIRE / November 22, 2017
/ Big Rock Partners
Acquisition Corp. (NASDAQ: BRPAU) ("Big Rock Partners" or the
"Company") today announced the closing of its initial public
offering of 6,000,000 units at a public offering price of $10.00
per unit, with the offering raising gross proceeds of $60,000,000.
The units commenced trading on Monday, November 20, 2017, on The
NASDAQ Capital Market ("Nasdaq") under the symbol "BRPAU." Each
unit issued in the initial public offering consists of one share of
common stock, one-half of one warrant, each whole warrant to
purchase one share of common stock at a price of $11.50 per share,
and one right to receive one-tenth of a share of common stock on
the consummation of an initial business combination. Once the
securities comprising the units begin separate trading, the common
stock, warrants and rights are expected to be traded on Nasdaq
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.
EarlyBirdCapital, Inc. acted as sole book-running manager and
I-Bankers Securities, Inc. acted as co-manager of the offering. Big
Rock Partners has granted the underwriters a 45-day option to
purchase up to 900,000 additional units to cover over-allotments,
if any.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of 250,000
units for $2,500,000 in gross proceeds, $60,000,000 (or $10.00 per
unit sold in the public offering) was placed in trust.
Akerman LLP served as counsel to the Company and Graubard Miller
served as counsel to the underwriters.
Registration statements relating to these securities were declared
effective by the Securities and Exchange Commission on November 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 public 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 Big Rock Partners
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.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements." 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 Company's offering filed with the SEC. Copies
are available on the SEC's website, www.sec.gov.
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:
Big Rock Partners Acquisition Corporation
Dawn Langford
(310) 734-2344
dlangford@bigrockpartners.com
SOURCE: Big Rock Partners
Acquisition Corp.