Offering with $6 million greenshoe is slated to fund working capital
By Devika Patel
Knoxville, Tenn., March 21 - BGS Acquisition Corp. priced its initial public offering of units to raise $40 million with a $6 million greenshoe in a prospectus filed Wednesday with the Securities and Exchange Commission.
The company will sell 4 million units of one ordinary share and one warrant at $10.00 per unit, with each warrant exercisable at $10.00 for five years. The units will be sold on a firm-commitment basis.
PrinceRidge Group LLC is the representative of the underwriters, with Mitsubishi UFJ Securities, Chardan Capital Markets, LLC and Aegis Capital Corp. assisting.
Settlement is expected on March 26.
Proceeds will be used for working capital requirements.
The blank check company is based in New York.
| Issuer: | BGS Acquisition Corp.
|
| Issue: | Units of one ordinary share and one warrant
|
| Amount: | $40 million
|
| Greenshoe: | $6 million
|
| Shares: | 4 million
|
| Price: | $10.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $10.00
|
| Underwriters: | PrinceRidge Group LLC (lead), Mitsubishi UFJ Securities, Chardan Capital Markets, LLC and Aegis Capital Corp.
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
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