NEW YORK, Sept. 3, 2014 /PRNewswire/ -- Sino Mercury
Acquisition Corp. (NASDAQ: SMACU) (the "Company") announced today
that it has completed its initial public offering of 4,000,000
units. Each unit consists of one share of common stock, par
value $.0001 per share, and one right
to automatically receive one-tenth of one share of common stock
upon consummation of an initial business combination. The
units were sold at an offering price of $10.00 per unit, generating gross proceeds of
$40,000,000 to the Company.
Cantor Fitzgerald & Co. acted as the sole underwriter of the
initial public offering. Copies of the final prospectus
relating to the offering may be obtained for free by visiting the
U.S. Securities and Exchange Commission website at
http://www.sec.gov. Alternatively, a copy of the prospectus
relating to the offering may be obtained from Cantor Fitzgerald
& Co., 499 Park Avenue, New York,
NY 10022, Attn: Kevin
Brennan, kbrennan@cantor.com, 212-915-1970.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of units,
$40,000,000 (or $10.00 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as
of September 2, 2014 reflecting
receipt of the proceeds upon consummation of the initial public
offering and the private placement will be included as Exhibit 99.1
to a Current Report on Form 8-K to be filed by the Company with the
Securities and Exchange Commission.
Sino Mercury Acquisition Corp. is a newly formed blank check
company organized for the purpose of effecting a merger, capital
stock exchange, asset acquisition or other similar business
combination with one or more businesses or entities. The Company's
efforts to identify a prospective target business will not be
limited to any particular industry or geographic region, although
the Company initially intends to focus on target businesses located
in the People's Republic of China
that operate in the non-traditional financial industry, including
but not limited to microcredit companies, financial leasing
companies and guarantors.
This press release shall not constitute an offer to sell or a
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 includes forward-looking statements that
involve risks and uncertainties. Forward looking statements
are statements that are not historical facts. Such
forward-looking statements, based upon the current beliefs and
expectations of the Company's management, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements.
Contact:
Richard Xu
President and Secretary
Sino Mercury Acquisition Corp.
(646) 387-1287
SOURCE Sino Mercury Acquisition Corp.