/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 24, 2016 /CNW/ - INFOR Acquisition Corp. (TSX: IAC.A, IAC.WT) ("INFOR Acquisition" or the "Company") is reporting its financial results as at December 31, 2015 and for the period from inception of the Company on April 17, 2015 to December 31, 2015. INFOR Acquisition's audited financial statements, along with the accompanying management's discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed under the Company's profile at www.sedar.com or on the Company's website at www.inforacquisitioncorp.com.
At December 31, 2015, invested securities in INFOR Acquisition's escrow account with Equity Financial Trust Company consisted of $231 million in Canadian government treasury bills. This represents 100% of the gross proceeds raised in connection with the Company's initial public offering of Class A Restricted Voting Units plus interest earned thereon and is available to the Company to complete its Qualifying Acquisition.
"Recent market volatility has accelerated our deal flow, and significantly expanded our opportunity set. We are committed to executing on a transaction of the highest quality for our shareholders and are confident that our patience, rigorous approach to due diligence and focus on minimizing expenses in our search will allow us to drive maximum value for our shareholders, " commented Neil M. Selfe, CEO of INFOR Acquisition.
As previously announced, we will hold a conference call to discuss our fourth quarter and year end 2015 financial results today at 4:30 p.m. EDT. The conference call will be chaired by Neil M. Selfe, Chief Executive Officer.
The number to use for this call is toll free +1-888-231-8191, passcode 67957610. The number for overseas callers is +1-647-427-7450, passcode 67957610. Please call in at least 10 minutes prior to the call. A replay of the call will be available until April 7, 2016 at +1-855-859-2056 or +1-416-849-0833, passcode 67957610.
About INFOR Acquisition Corp.
INFOR Acquisition Corp. is a special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or engaging in any other similar business combination with one or more businesses or assets.
Visit INFOR Acquisition Corp. at www.inforacquisitioncorp.com
About INFOR Financial Group Inc.
INFOR Financial Group Inc. ("INFOR Financial Group"), the sponsor of INFOR Acquisition, is a leading independent merchant and investment bank based in Toronto. INFOR Financial Group provides innovative, independent, forward thinking financial and strategic advice to corporations, institutional investors, entrepreneurs and government entities. INFOR Financial Group's asset management division currently is focused on institutional equity, private equity and structured credit investments. INFOR Financial Inc., a wholly-owned subsidiary of INFOR Financial Group, is an independent investment bank that offers advice on mergers and acquisitions, capital raises, risk management, private funds as well as corporate restructurings and derivative hedging strategies.
Visit INFOR Financial Group at www.inforfg.com
SOURCE INFOR Acquisition Corp.
For further information: Neil M. Selfe, Chief Executive Officer and Director, INFOR Acquisition Corp., Chief Executive Officer, INFOR Financial Group Inc., (416) 646-2610