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Blank check company Union Acquisition prices $100M IPO

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Blank check company Union Acquisition prices $100M IPO

Union Acquisition Corp. priced its IPO of 10 million units at $10 each.

Each unit consists of 1 ordinary share, one right to receive 0.1 of 1 ordinary share upon consummation of an initial business combination and 1 redeemable warrant entitling the holder to purchase 1 ordinary share at a price of $11.50 per share.

Underwriters were given a 45-day option to purchase up to 1.5 million additional units at the IPO price solely to cover overallotments.

Ladenburg Thalmann & Co. Inc. is sole book-running manager of the offering. CIM Securities LLC is lead manager and I-Bankers Securities Inc. is co-manager of the offering.

Union Acquisition 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.