Ribbon Acquisition Corp Announces Closing of $50 Million Initial Public Offering.
Ribbon Acquisition Corp (NASDAQ: RIBBU) has successfully completed its initial public offering (IPO) of 5,000,000 units at $10.00 per unit, raising $50 million. Each unit comprises one Class A ordinary share and one right to receive one-seventh of one Class A ordinary share upon completing an initial business combination.
The units began trading on NASDAQ under 'RIBBU' on January 15, 2025. The ordinary shares and rights will later trade separately under 'RIBB' and 'RIBBR' respectively. A.G.P./Alliance Global Partners served as the sole book-running manager, with The Benchmark Company as co-manager. The underwriters have a 45-day option to purchase up to 750,000 additional units to cover over-allotments.
Ribbon Acquisition Corp (NASDAQ: RIBBU) ha completato con successo la sua offerta pubblica iniziale (IPO) di 5.000.000 di unità a 10,00$ ciascuna, raccogliendo 50 milioni di dollari. Ogni unità è composta da un'azione ordinaria di Classe A e un diritto di ricevere un-settimo di un'azione ordinaria di Classe A al termine di una combinazione aziendale iniziale.
Le unità hanno iniziato a essere negoziate su NASDAQ con il simbolo 'RIBBU' il 15 gennaio 2025. Le azioni ordinarie e i diritti saranno successivamente negoziati separatamente con i simboli 'RIBB' e 'RIBBR' rispettivamente. A.G.P./Alliance Global Partners ha svolto il ruolo di unico gestore dell'offerta, con The Benchmark Company come co-gestore. Gli underwriter hanno un'opzione di 45 giorni per acquistare fino a 750.000 unità aggiuntive per coprire le sovraassegnazioni.
Ribbon Acquisition Corp (NASDAQ: RIBBU) ha completado exitosamente su oferta pública inicial (IPO) de 5.000.000 de unidades a $10.00 por unidad, recaudando 50 millones de dólares. Cada unidad se compone de una acción ordinaria de Clase A y un derecho a recibir un séptimo de una acción ordinaria de Clase A tras completar una combinación empresarial inicial.
Las unidades comenzaron a cotizar en NASDAQ bajo 'RIBBU' el 15 de enero de 2025. Las acciones ordinarias y los derechos se negociarán por separado con 'RIBB' y 'RIBBR' respectivamente. A.G.P./Alliance Global Partners actuó como único director de libro, con The Benchmark Company como co-director. Los suscriptores tienen una opción de 45 días para comprar hasta 750.000 unidades adicionales para cubrir sobreasignaciones.
리본 인수 법인 (NASDAQ: RIBBU)는 5,000,000 단위를 유닛당 10.00달러에 공개하며 총 5천만 달러를 모금하는 기업공개(IPO)를 성공적으로 완료했습니다. 각 유닛은 하나의 클래스 A 보통주와 초기 비즈니스 결합 완료 시 클래스 A 보통주 1주 7분의 1을 받을 권리로 구성됩니다.
유닛은 2025년 1월 15일 NASDAQ에서 'RIBBU'라는 기호로 거래를 시작했습니다. 보통주와 권리는 각각 'RIBB'와 'RIBBR'로 나누어 거래될 예정입니다. A.G.P./Alliance Global Partners는 단독 주관사로 활동했으며, The Benchmark Company가 공동 주관사로 참여했습니다. 인수인들은 45일 이내에 750,000개의 추가 유닛을 구매할 수 있는 옵션을 갖고 있습니다.
Ribbon Acquisition Corp (NASDAQ: RIBBU) a réussi à finaliser son introduction en bourse (IPO) de 5.000.000 d'unités à 10,00 $ par unité, levant ainsi 50 millions de dollars. Chaque unité se compose d'une action ordinaire de Classe A et d'un droit de recevoir un septième d'une action ordinaire de Classe A lors de la réalisation d'une combinaison d'affaires initiale.
Les unités ont commencé à être négociées sur NASDAQ sous le symbole 'RIBBU' le 15 janvier 2025. Les actions ordinaires et les droits seront ensuite négociés séparément sous 'RIBB' et 'RIBBR' respectivement. A.G.P./Alliance Global Partners a agi en tant que gestionnaire unique du livre, avec The Benchmark Company en tant que co-gestionnaire. Les souscripteurs ont une option de 45 jours pour acheter jusqu'à 750.000 unités supplémentaires pour couvrir les surallocations.
Ribbon Acquisition Corp (NASDAQ: RIBBU) hat erfolgreich sein Initial Public Offering (IPO) von 5.000.000 Einheiten zu je 10,00 $ pro Einheit abgeschlossen und 50 Millionen Dollar gesammelt. Jede Einheit besteht aus einer Aktie der Klasse A und einem Recht, bei Abschluss einer ersten Unternehmenszusammenführung ein Siebtel einer Aktie der Klasse A zu erhalten.
Die Einheiten begannen am 15. Januar 2025 unter dem Symbol 'RIBBU' an der NASDAQ zu handeln. Die Stammaktien und Rechte werden später separat unter 'RIBB' und 'RIBBR' gehandelt. A.G.P./Alliance Global Partners fungierte als alleiniger Buchführungsmanager, wobei die Benchmark Company als Co-Manager tätig war. Die Underwriter haben eine 45-tägige Option, um bis zu 750.000 zusätzliche Einheiten zu kaufen, um Überzeichnungen abzudecken.
- Successfully raised $50 million through IPO
- Units priced at $10.00, indicating market confidence
- Listed on NASDAQ, providing strong market visibility
- 45-day over-allotment option for additional 750,000 units
- Potential shareholder dilution from 1/7 share rights upon business combination
- No specific business combination target identified yet
Insights
This $50 million SPAC IPO represents an interesting development in the SPAC market, particularly given the challenging environment for blank check companies. The deal structure offers a unique 1/7 right conversion ratio for additional shares post-business combination, which differs from the more common 1/10 warrant structure seen in many SPACs. The $10 unit price aligns with market standards, while the 45-day over-allotment option for 750,000 additional units provides flexibility for market demand.
The involvement of A.G.P./Alliance Global Partners as lead underwriter suggests a focus on smaller, potentially high-growth targets, given their track record with emerging growth companies. The relatively modest size of
For retail investors: Think of this SPAC as a blank check that will be used to acquire a private company. The 1/7 right means for every 7 shares you own, you'll get 1 additional share when they find and merge with a target company. The current
The successful pricing and closing of this IPO amid current market conditions is noteworthy. The structure incorporating rights instead of warrants may indicate an attempt to reduce future dilution while still providing upside potential for investors. The timing suggests confidence in the SPAC market's ability to execute deals in 2025, despite the broader slowdown in SPAC activities over recent years.
The modest size could actually be advantageous - it provides enough capital to target promising private companies while maintaining flexibility in negotiations. The underwriting syndicate's composition, with both A.G.P. and Benchmark Company, suggests a well-planned distribution strategy targeting both institutional and retail investors.
New York, New York, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Ribbon Acquisition Corp (NASDAQ: RIBBU, the “Company”) today announced the closing of its initial public offering (“IPO”) of 5,000,000 units at an offering price of
The units are listed on The NASDAQ Capital Market (“NASDAQ”) and began trading under the ticker symbol “RIBBU” on January 15, 2025. Once the securities comprising the units begin separate trading, the ordinary share and rights are expected to be listed on NASDAQ under the symbols “RIBB” and “RIBBR,” respectively.
A.G.P./Alliance Global Partners acted as sole book-running manager for the offering. The Benchmark Company, LLC acted as the co-manager for the offering.
The Company has granted the underwriters a 45-day option to purchase up to 750,000 units at the initial public offering price to cover over-allotments, if any.
Sichenzia Ross Ference Carmel LLP served as legal counsel to the Company and Loeb & Loeb LLP served as legal counsel to A.G.P./Alliance Global Partners in the offering.
A registration statement related to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on January 14, 2025. The offering has been made only by means of a prospectus, copies of which may be obtained by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com. Copies of the registration statement can be accessed through the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a 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.
About Ribbon Acquisition Corp
The Company is a blank check company incorporated in the Cayman Islands as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company intends to conduct a global search for target businesses without being limited by geographic region, certain executive officers and independent directors are based in Hong Kong, and certain executive officers have experience investing in and building businesses in the Asia Pacific region and have a deep understanding of the region’s business environment, regulations, regulatory bodies and culture. The Company will not undertake an initial business combination with any company being based in or having the majority of the company’s operations in Greater China. The Company is led by Mr. Angshuman (Bubai) Ghosh, the Company’s Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, the Company’s Chief Financial Officer.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the IPO and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net 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 and preliminary prospectus for the IPO 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.
Contact:
Ribbon Acquisition Corp
Anna Zhou
Chief Financial Officer
Email: anna.zhou@ribbonacquisitioncorp.com
FAQ
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