MCLEAN, VA / ACCESSWIRE / August 19, 2021 / Gladstone Acquisition Corp. (Nasdaq:GLEEU) ("Gladstone" or the "Company"), a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the closing of the issuance of an additional 492,480 units, consisting of one share of Class A common stock and one-half of one redeemable warrant, pursuant to the partial exercise of the underwriter's over-allotment option in connection with the Company's initial public offering (the "Offering").
The additional units were sold at the initial offering price of $10.00 per unit, generating additional gross proceeds of $4,924,800 to the Company and bringing the total gross proceeds of the Offering to $104,924,800. The Company's units began trading on the Nasdaq Capital Market on August 5, 2021 under the ticker symbol "GLEEU." Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on the Nasdaq Capital Market under the ticker symbols "GLEE" and "GLEEW", respectively. Each whole warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable.
While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on the farming or agricultural sector, including farming related operations and businesses that support the farming industry, where its management team has extensive experience. EF Hutton, division of Benchmark Investments, LLC, acted as Sole Book-Running Manager for the Offering. Cooley LLP acted as counsel to Gladstone, and Loeb & Loeb LLP acted as counsel for the underwriter.
The units described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-252916) that was declared effective on August 4, 2021. The Offering was made only by means of a prospectus, copies of which may be obtained, from: EF Hutton, division of Benchmark Investments LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002, or by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the anticipated use of the proceeds of the Offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the prospectus for the Offering. Copies of these documents can be accessed through the SEC's website at www.sec.gov. No assurance can be given that the net proceeds of the Offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
Gladstone Acquisition Corporation
SOURCE: Gladstone Acquisition Corporation