As previously reported
on a Current Report on Form 8-K filed by DD3 Acquisition Corp. (the “Company”) on October 16, 2018 (the “Initial
Form 8-K”), on October 16, 2018, the Company completed its initial public offering (the “IPO”) of 5,000,000 units
(“Units”), each Unit consisting of one ordinary share, no par value (“Ordinary Shares”), and one warrant
(“Warrant”), each Warrant exercisable to purchase one Ordinary Share at an exercise price of $11.50, 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.
On October 18, 2018,
the underwriters notified the Company of their exercise of the over-allotment option in part and, on October 23, 2018, the underwriters
purchased 565,000 additional Units (the “Additional Units”) at $10.00 per Additional Unit upon the closing of the over-allotment
option, generating gross proceeds of $5,650,000. In addition, the Company issued to the designees of the underwriters an additional
2,825 Ordinary Shares.
As previously reported
on the Initial Form 8-K, on October 16, 2018, simultaneously with the consummation of the IPO, the Company consummated the private
placement (the “Private Placement”) of an aggregate of 225,000 units (“Private Units”) at a price of $10.00
per Private Unit, generating gross proceeds of $2,250,000. On October 23, 2018, simultaneously with the sale of the Additional
Units, the Company consummated the sale of an additional 14,125 Private Units at $10.00 per additional Private Unit (the “Additional
Private Units”), generating gross proceeds of $141,250. The Private Units are identical to the Units except as described
on the Initial Form 8-K.
A total of $5,650,000
of the net proceeds from the sale of the Additional Units and the Additional Private Units (including $141,250 that was previously
deposited by DD3 Mex Acquisition Corp (the “Sponsor”) as an advance in anticipation of the underwriters exercising
their over-allotment option) were deposited in the trust account established for the benefit of the Company’s public stockholders
at J.P. Morgan Chase Bank, N.A. (the “Trust Account”), with Continental Stock Transfer & Trust Company acting as
trustee, bringing the aggregate proceeds held in the Trust Account to $55,650,000.
An audited balance
sheet as of October 16, 2018 reflecting receipt of the net proceeds from the IPO and the Private Placement and the advance by the
Sponsor, but not the net proceeds from the sale of the Additional Units, had been prepared by the Company and previously filed
on a Current Report on Form 8-K on October 22, 2018. The Company’s unaudited pro forma balance sheet as of October 23, 2018
reflecting receipt of the net proceeds from the sale of the Additional Units is attached hereto as Exhibit 99.1.