Bookrunner UBS Investment Bank assists in selling 8 million units
By Devika Patel
Knoxville, Tenn., Oct. 24 – Hydra Industries Acquisition Corp. said it priced its $80 million initial public offering of units with a $12 million greenshoe.
The company will sell 8 million units of one common share, rights for 1/10th of a share and a half-share warrant at $10.00 per unit.
UBS Investment Bank is the bookrunning manager.
Proceeds will be used for a merger or business combination.
The blank check company is based in New York. The company expects its shares will trade on the Nasdaq under the symbol “HDRA.”
| Issuer: | Hydra Industries Acquisition Corp.
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| Issue: | Units of one common share, rights for 1/10th of a share and a half-share warrant
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| Amount: | $80 million
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| Greenshoe: | $12 million
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| Units: | 8 million
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| Price: | $10.00
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| Warrants: | One half-share warrant per unit
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| Bookrunner: | UBS Investment Bank
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| Co-manager: | EarlyBirdCapital, Inc.
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| Pricing date: | Oct. 24
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| Stock symbol: | Nasdaq: HDRA
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