On October 16, 2018,
DD3 Acquisition Corp. (the “Company”) completed its initial public offering (“IPO”) of 5,000,000 units
(“Units”), each Unit consisting of one ordinary share, no par value (“Ordinary Shares”) and one warrant
(“Warrants”), each Warrant exercisable to purchase one Ordinary Share, pursuant to the Company’s registration
statement on Form S-1, as amended (File No. 333-227423). The Units were sold at an offering price of $10.00 per Unit, generating
gross proceeds of $50,000,000. In connection with the IPO, the Company granted the underwriters a 45-day option to purchase up
to an additional 750,000 Units to cover over-allotments, if any.
As previously reported
on a Current Report on Form 8-K of the Company, on October 16, 2018, simultaneously with the consummation of the IPO, the Company
completed a private placement (the “Private Placement”) of an aggregate of 225,000 units (the “Private Units”)
at a price of $10.00 per Private Unit, generating total proceeds of $2,250,000.
A total of $50,187,500
of the net proceeds from the IPO and the Private Placement (including $187,500 that was deposited by DD3 Mex Acquisition Corp as
an advance in anticipation of the underwriters exercising their over-allotment option) were deposited in a trust account established
for the benefit of the Company’s public shareholders. An audited balance sheet as of October 16, 2018 reflecting receipt
of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and is attached hereto as
Exhibit 99.1.
On October 18, 2018,
the underwriters notified the Company of their exercise of the over-allotment option in part and are expected to purchase 565,000
additional Units at $10.00 per Unit upon the closing of the over-allotment option, generating gross proceeds of $5,650,000. The
over-allotment option is expected to close on October 23, 2018, subject to customary closing conditions.
On October 22, 2018,
the Company announced that the holders of the Units may elect to separately trade the Ordinary Shares and Warrants underlying such
Units commencing on October 23, 2018. Any Units not separated will continue to trade on the Nasdaq Capital Market under the symbol
“DDMXU.” Any underlying Ordinary Shares and Warrants that are separated are expected to trade on the Nasdaq Capital
Market under the symbols “DDMX” and “DDMXW”, respectively. Holders of Units will need to have their brokers
contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the holders’
Units into Ordinary Shares and Warrants.
A copy of the press
release issued by the Company announcing the separate trading of the securities underlying the Units is attached hereto as Exhibit
99.2.