Company sells 4.8 million units of one share and a warrant at $10.00
By Devika Patel
Knoxville, Tenn., July 26 - Nautilus Marine Acquisition Corp. completed a $48 million private placement of units on July 26, according to a 6-K filed Tuesday with the Securities and Exchange Commission.
The company sold 4.8 million units of one common share and a warrant at $10.00 per unit.
The warrants are each exercisable at $11.50 for five years. The strike price reflects a 15.81% premium to the July 25 closing share price of $9.93.
Nautilus is a blank check company based in Athens, Greece.
Issuer: | Nautilus Marine Acquisition Corp.
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Issue: | Units of one common share and a warrant
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Amount: | $48 million
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Units: | 4.8 million
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Price: | $10.00
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Warrants: | One warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | $11.50
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Settlement date: | July 26
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Stock symbol: | Nasdaq: NMARU
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Stock price: | $9.94 at close July 26
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