Market Overview

Union Acquisition Corp. Announces Closing of $115 Million Initial Public Offering Including Over-Allotment Option

Share:

Union Acquisition Corp. (NYSE:LTN) (the "Company")
announced today the closing of its initial public offering of 11,500,000
units at $10.00 per unit including 1,500,000 units which were subject to
the underwriters' over-allotment option. Each unit consists of one
ordinary share of the Company ("Ordinary Shares"),
one right to receive one-tenth (1/10) of one Ordinary Share upon
consummation of an initial business combination, and one redeemable
warrant entitling the holder to purchase one Ordinary Share at a price
of $11.50 per share. The units have been listed on the New York Stock
Exchange ("NYSE") and trade under the
ticker symbol "LTN.U." Once the securities comprising the units begin
separate trading, the ordinary shares, rights and warrants are expected
to be traded on the NYSE under the symbols "LTN," "LTN RT" and "LTN WS,"
respectively.

Of the proceeds received from the consummation of the initial public
offering and a simultaneous private placement of warrants, $116,150,000
(or $10.10 per Ordinary Share sold in the offering) was placed in trust.
An audited balance sheet of the Company as of March 2, 2018 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.

Union Acquisition Corp. is a newly formed blank check company organized
for the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, recapitalization, reorganization, 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 Latin
America. The Company is led by Juan Sartori, Chairman of the Board of
the Company and Chairman and founder of Union Group, and Kyle P.
Bransfield, Chief Executive Officer of the Company and Partner of
Atlantic-Pacific Capital, Inc.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE:LTS), acted as sole book-running
manager of the offering, CIM Securities, LLC acted as lead manager of
the offering and I-Bankers Securities, Inc. acted as co-manager of the
offering. The offering was made only by means of a prospectus, copies of
which may be obtained from Ladenburg Thalmann & Co. Inc., 277 Park
Avenue, 26th Floor, New York, NY 10172, Attn: Syndicate Department.
Copies are also available on the Securities and Exchange Commission's
website, www.sec.gov.

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, including
with respect to the initial public offering and the anticipated use of
the proceeds thereof, are subject to risks and uncertainties, which
could cause actual results to differ from the forward looking
statements, including those set forth in the risk factors section of the
prospectus used in connection with the Company's initial public
offering. No assurance can be given that the offering discussed above
will be completed on the terms described, or at all, or that the net
proceeds of the offering will be used as indicated. The Company
expressly disclaims any obligations or undertaking to release publicly
any updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on which
any statement is based, except as required by law.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com