Capitol Acquisition Corp II: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Capitol Acquisition Corp II Announces Pricing Of $180 Million Initial Public Offering
Capitol Acquisition Corp II announced that an acquisition vehicle formed by private equity and venture capitalist Mark D. Ein, announced that it priced initial public offering of 18,000,000 units. The units were sold at an offering price of $10.00 per unit raising gross proceeds of $180,000,000. The offering size was increased from 15,000,000 units to accommodate investor demand. The units are expected to begin trading on the NASDAQ on May 10, 2013 under the symbol CLACU. Capitol Acquisition Corp. II was formed to complete an acquisition using cash, debt or securities, and there is no limitation on ability to raise additional funds in connection with acquisition. As a result, the Company may acquire a target whose enterprise value is a significant multiple of the amount of cash raised in this offering. No specific industry sector or acquisition target has yet been identified. Each unit issued in the initial public offering consists of one share of the Company's common stock and one half of one warrant to purchase one share of common stock at an exercise price of $11.50 per share. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 units offered by the Company to cover over-allotments, if any. Approximately $180,000,000 of the proceeds received from this offering will be deposited into a trust account at JP Morgan Chase, N.A. with Continental Stock Transfer & Trust Company acting as trustee.
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