Hennessy Capital Acquisition Corp. IV Announces Completion of $300M IPO
Hennessy Capital Acquisition Corp. IV (the “Company”) announced today that it has closed its initial public offering of 30,015,000 units, including 3,915,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option, at an offering price of $10.00 per unit, with the offering raising gross proceeds of $300,150,000. On March 1, 2019, the units commenced trading on The Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “HCACU.” Each unit consists of one share of the Company’s Class A common stock and three-quarters of one redeemable warrant, each whole warrant enabling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “HCAC” and “HCACW,” respectively.
The Company is a blank check company founded by Daniel J. Hennessy and formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses in the industrial, infrastructure solutions and value-added distribution sectors in the United States.
Nomura Securities International, Inc. and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers for the offering and I-Bankers Securities, Inc. served as co-manager for the offering.