MDH Acquisition Corp. Announces Closing of Upsized $276 Million Initial Public Offering Including Full Exercise of Over-Allotment Option
MDH Acquisition Corp. announced the successful closing of its upsized IPO, raising $276 million by offering 27,600,000 units at $10 each. This includes 3,600,000 units from the underwriters' over-allotment. Trading on the NYSE under the ticker symbol 'MDH.U' commenced on February 2, 2021. Each unit includes one share of Class A common stock and a half warrant, with warrants exercisable at $11.50. The company, a blank check firm, aims to identify and merge with businesses across various sectors, particularly in transportation, logistics, telecommunications, and financial services.
- Successfully raised $276 million through an upsized IPO.
- Increased investor confidence indicated by the full exercise of the underwriters' option.
- Strategic focus on sectors aligned with management's expertise.
- None.
MDH Acquisition Corp. (the “Company”) today announced the closing of its upsized initial public offering of 27,600,000 units at a price of
MDH Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on industries that complement its management team’s background in transportation and logistics, telecommunications, financial services and professional services, and to capitalize on the ability of its management team to identify and acquire a business.
Stifel, Nicolaus & Company, Incorporated and Oppenheimer & Co. Inc. acted as joint bookrunning managers of the offering.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 1, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, email: syndprospectus@stifel.com, or by telephone: (855) 300-7136 or Oppenheimer & Co. Inc. at 85 Broad St., New York, NY 10004.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006032/en/
FAQ
What was the amount raised by MDH Acquisition Corp in its IPO?
When did MDH Acquisition Corp begin trading on the NYSE?
What does each unit in MDH Acquisition Corp's IPO consist of?
What sectors is MDH Acquisition Corp focusing on for acquisitions?
What is the exercise price for the warrants issued by MDH Acquisition Corp?
