/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/
All values are in Canadian dollars unless otherwise indicated.
TORONTO, Aug. 5, 2015 /CNW/ - Acasta Capital Inc. ("Acasta") and Acasta Enterprises Inc. (the "Corporation") are pleased to announce that, further to the $350,000,000 initial public offering of Class A restricted voting units (the "Class A Restricted Voting Units") which closed on July 30, 2015, the underwriters have exercised their over-allotment option (the "Over-Allotment Option") in full to purchase an additional 5,250,000 Class A Restricted Voting Units at a price of $10.00 per unit. As a result of the exercise of the Over-Allotment Option, an aggregate of 40,250,000 Class A Restricted Voting Units will be outstanding and an aggregate of $402,500,000 will be deposited into escrow to be released upon the satisfaction of certain prescribed conditions.
The Corporation is a newly organized special purpose acquisition corporation formed for the purpose of effecting a qualifying acquisition. Acasta, a merchant bank and advisory firm based in Toronto, Ontario, is the sponsor of the Corporation.
Concurrent with the closing of the Over-Allotment Option, the Corporation's founders will purchase an aggregate of 118,125 Class B units ("Class B Units") at a price of $10.00 per Class B Unit, resulting in additional proceeds of $1,181,250 to the Corporation.
This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. Copies of the final prospectus are available on SEDAR at www.sedar.com.
About Acasta Enterprises Inc.
Acasta Enterprises Inc. is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying acquisition.
About Acasta Capital Inc.
Acasta is the sponsor of the Corporation. Acasta is a merchant bank and advisory firm based in Toronto, Ontario, formed to bring together individuals with unique experiences and track records to create value for clients and partners based on inventive and actionable ideas. Acasta's principals are figures who have operated at senior levels of asset management, politics, and commerce within the international business community, and have global networks across numerous sectors. Visit Acasta Capital Inc. at www.acastacapital.com.
This press release may contain forwardlooking information within the meaning of applicable securities legislation, which reflects Acasta's and the Corporation's current expectations regarding future events. Forwardlooking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Acasta's or the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forwardlooking information. Such risks and uncertainties include, but are not limited to, failure to complete all or any part of the Over-Allotment Option and related transactions, and the factors discussed under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the final prospectus of the Corporation dated July 22, 2015, a copy of which is available on the SEDAR website at www.sedar.com under the Corporation's profile. Neither Acasta nor the Corporation undertake any obligation to update such forwardlooking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Acasta Enterprises Inc.
For further information: Mark Entwistle, (416) 531-9497