Boxwood Merger Corp. Announces Pricing of $200 Million Initial Public Offering
November 15 2018 - 8:25PM
Business Wire
Boxwood Merger Corp. (the "Company”) announced today the pricing
of its initial public offering of 20,000,000 units at a price of
$10.00 per unit. The units will be listed on the NASDAQ Capital
Market and trade under the ticker symbol "BWMCU" beginning
tomorrow. Each unit consists of one share of the Company's Class A
common stock and one warrant, each warrant entitling the holder
thereof to purchase one share of Class A common stock at a price of
$11.50 per share. Once the securities comprising the units begin
separate trading, the Class A common stock and warrants are
expected to be listed on the NASDAQ Stock Market under the symbols
"BWMC" and "BWMCW," respectively.
Boxwood Merger Corp. is a blank check company formed for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any business or
industry, it intends to focus its search on companies that provide
technical and industrial services. The Company is led by Chairman
and Chief Executive Officer Stephen M. Kadenacy, Chief Financial
Officer Daniel E. Esters and Chief Investment Officer Duncan
Murdoch.
BofA Merrill Lynch, Morgan Stanley and Macquarie Capital are
acting as joint book-running managers and I-Bankers Securities,
Inc. is acting as co-manager of the offering. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 3,000,000 units at the initial public offering
price.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Morgan
Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY
10014, Attention: Prospectus Department; BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC
28255-0001, Attention: Prospectus Department or by email at
dg.prospectus_requests@baml.com; and Macquarie Capital (USA) Inc.,
125 West 55th Street, L-22, New York, NY 10019, Attention:
Syndicate Department, telephone: 212-231-0440, or by emailing:
MacquarieEquitySyndicateUSA@macquarie.com.
A registration statement relating to the securities has been
declared effective by the Securities and Exchange Commission
("SEC") on November 15, 2018. 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.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
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 preliminary 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181115006115/en/
Daniel E. Estersdan.esters@boxwoodmc.com
Boxwood Merger (NASDAQ:BWMCU)
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