Offering has $3.75 million greenshoe, conducted by Broadband Capital
By Devika Patel
Knoxville, Tenn., March 7 - Committed Capital Acquisition Corp. II priced a $25 million public offering of units with a $3.75 million greenshoe in a Form S-1 filed Wednesday with the Securities and Exchange Commission. Broadband Capital Management LLC is the representative of the underwriters.
The company will sell 5 million units of one common share and a warrant at $5.00 per unit on a firm-commitment basis.
The warrants are each exercisable at $5.00 for up to two years. The strike price is identical to the March 6 closing share price.
Proceeds will be used for working capital purposes.
The blank check company is based in New York.
| Issuer: | Committed Capital Acquisition Corp. II
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $25 million
|
| Greenshoe: | $3.75 million
|
| Units: | 5 million
|
| Price: | $5.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $5.00
|
| Underwriter: | Broadband Capital Management LLC (lead)
|
| Pricing date: | March 7
|
| Stock symbol: | OTCBB: CCACU
|
| Stock price: | $5.00 at close March 6
|
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