Yellowstone Acquisition Company Announces Closing of Over-Allotment Option in Initial Public Offering
December 01 2020 - 04:58PM
Business Wire
Yellowstone Acquisition Company (the “Company”) (NASDAQ:YSACU),
a special purpose acquisition company, announced the closing of the
sale today of an additional 1,098,898 units pursuant to the partial
exercise of the underwriters’ over-allotment option in connection
with the Company’s initial public offering. The additional units
were sold at the initial public offering price of $10.00 per unit.
The total number of units sold by the Company in the initial public
offering, including the sale of the over-allotment units, increased
to 13,598,898 and gross proceeds increased to approximately
$135,988,980. In addition, BOC Yellowstone LLC, a subsidiary of
Boston Omaha Corporation (NASDAQ:BOMN), served as the sponsor for
the Company’s initial public offering and purchased both 3,339,724
shares of the Company’s Class B common stock for $25,000 and
warrants to purchase 7,719,779 shares of Class A Common Stock at a
price of $1.00 per warrant, for a total investment of $7,744,779.
Each of these warrants are exercisable at $11.50 per share.
The Company previously sold in its initial public offering
12,500,000 units at a price of $10.00 per unit, resulting in gross
proceeds of $125,000,000. The units began trading on the NASDAQ
Stock Market, LLC (“NASDAQ”) under the ticker symbol “YSACU” on
October 22, 2020. Each unit issued in the offering consists of one
share of the Company’s Class A common stock and one-half of one
warrant, each whole warrant entitling the holder thereof to
purchase one share of Class A common stock at an exercise price of
$11.50 per share. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade. After
the securities comprising the units begin separate trading, the
shares of Class A common stock and warrants are expected to be
listed on NASDAQ under the symbols “YSAC” and “YSACW,”
respectively.
Wells Fargo Securities served as the sole book runner for the
offering.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained, when available, from Wells Fargo
Securities, Attention: Equity Syndicate Department, 500 West 33rd
Street, New York, New York, 10001, at (800) 326-5897 or email a
request to cmclientsupport@wellsfargo.com. A registration statement
relating to these securities was filed with the Securities and
Exchange Commission (“SEC”) and became effective on October 21,
2020. 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 an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
ABOUT YELLOWSTONE ACQUISITION COMPANY
Yellowstone Acquisition Company, led by Adam Peterson and Alex
Rozek, is a blank check company formed for the purpose of entering
into a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses in the homebuilding, manufacturing serving the
homebuilding market, financial services and commercial real estate
industries. To contact the Company, please visit
www.yellowstoneac.com or email the Company at
contact@yellowstoneac.com.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
“forward-looking statements.” 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
prospectus for the 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201201006201/en/
Investor Contact: Catherine Vaughan
contact@yellowstone.com
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