Secure America Acquisition Corporation Completes Its Initial Public Offering
October 29 2007 - 2:05PM
PR Newswire (US)
ARLINGTON, Va., Oct. 29 /PRNewswire-FirstCall/ -- Secure America
Acquisition Corporation (AMEX:HLD.U), (the "Company") announced
today that it has completed its initial public offering (the "IPO")
of 10,000,000 units. Each unit consists of one share of common
stock and one warrant, which entitles the holder to purchase one
share of common stock. The units were sold at an offering price of
$8.00 per unit, generating gross proceeds of $80,000,000 to the
Company. The offering was led by SunTrust Robinson Humphrey, acting
as sole book-running manager. Immediately prior to the consummation
of the IPO, the Company completed a private placement of 2,075,000
warrants at a price of $1.00 per warrant, generating gross proceeds
of $2,075,000. These warrants were purchased by Secure America
Acquisition Holdings, LLC, an affiliate of certain officers and
directors of the Company. The warrants sold in the private
placement are identical to the warrants included in the units sold
in IPO except that if the Company calls the warrants for
redemption, the warrants sold in the private placement will not be
redeemable by the Company so long as they are held by these
purchasers or their permitted transferees. The purchasers of the
warrants sold in the private placement have agreed that these
warrants will not be transferred, assigned or sold by them (except
in limited situations) until after the Company has completed its
initial business combination. Audited financial statements as of
October 29, 2007, reflecting receipt of the proceeds received by
the Company in connection with the consummation of the initial
public offering and private sale of warrants, will be issued by the
Company and will be included as Exhibit 99.1 to a Current Report on
Form 8-K to be filed by the Company with the Securities Exchange
Commission as soon as practicable. A registration statement
relating to the units was filed and declared effective by the
Securities and Exchange Commission on October 23, 2007. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy the securities of Secure America Acquisition
Corporation, 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. The offering of
these securities will be made only by means of a prospectus.
Information about the offering is available in the prospectus filed
with the Securities and Exchange Commission. Copies of the
prospectus can be obtained from SunTrust Robinson Humphrey, 3333
Peachtree Street Road, NE, Atlanta, GA 30326, via telephone at
404-926-5463, or from Morgan Joseph & Co. Inc., 600 Fifth
Avenue, 19th Floor, New York, NY 10020, via telephone at 212-
218-3288. About Secure America Acquisition Corporation Secure
America Acquisition Corporation is a newly organized blank check
company formed for the purpose of acquiring, or acquiring control
of, through a merger, capital stock exchange, asset acquisition or
other similar business combination, one or more domestic or
international operating businesses in the homeland security
industry, but not businesses that design, build or maintain
mission-critical facilities. Forward-Looking Statements This press
release may contain forward-looking statements within the meaning
of the federal securities laws. These forward-looking statements
inherently involve risks and uncertainties that are detailed in the
Company's prospectus and other filings with the Securities and
Exchange Commission and, therefore, actual results could differ
materially from those projected in the forward-looking statements.
The Company assumes no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Contact C. Thomas McMillen Chairman and
co-CEO Secure America Acquisition Corporation (703) 528 7073 x 101
DATASOURCE: Secure America Acquisition Corporation CONTACT: C.
Thomas McMillen, Chairman and co-CEO, Secure America Acquisition
Corporation, +1-703-528 7073 x 101
Copyright