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Union Acquisition closes IPO

Union Acquisition Corp. has closed its IPO of 11.5 million units at $10.00 per unit, including 1.5 million units pursuant to the underwriters' overallotment option.

Each unit consists of one ordinary share of the company, one right to receive one-tenth 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.

Of the proceeds received from the IPO and a simultaneous private placement of warrants, $116.2 million was placed in trust.

The units have been listed on the New York Stock Exchange 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.