Atlantic Alliance plans $75 million initial public offering of stock

Deal includes 45-day greenshoe for additional $11.25 million

By Marisa Wong

Madison, Wis., Feb. 23 – Atlantic Alliance Partnership Corp. plans to offer 7.5 million ordinary shares at a price of $10.00 per share for proceeds of $75 million, according to an S-1 filing with the Securities and Exchange Commission.

The initial public offering will include a 45-day over-allotment option for 1,125,000 additional shares. If exercised, the greenshoe would bring the total issue to $86.25 million.

Citigroup Global Markets Inc. is acting as the bookrunner and sole underwriter.

Proceeds will be used for expenses related to the company’s business combination as well as for working capital.

The company has applied to list its shares on the Nasdaq under the symbol “AAPC.”

Atlantic Alliance is a blank check company incorporated in the British Virgin Islands.

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