HONOLULU (May 17, 2018) – Trinity Merger Corp. (the “Company”), a special purpose acquisition vehicle led by seasoned real estate investment professionals Lee S. Neibart and Sean A. Hehir, today announced the closing of its initial public offering (“IPO”) in which it raised gross proceeds of $345 million.
The Company intends to focus on business combination candidates with a real estate component and an enterprise value of approximately $750 million to $2 billion.
The Company sold 34.5 million units at $10.00 per unit in the IPO, which includes 4.5 million units issued pursuant to the underwriter’s exercise of its over-allotment option in full. The Company’s units began trading on The NASDAQ Capital Market (“NASDAQ”) under the ticker symbol “TMCXU” on May 15, 2018.
Each unit consists of one share of the Company’s Class A common stock and one warrant to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “TMCX” and “TMCXW,” respectively.
B. Riley FBR, Inc. served as sole book-running manager for the offering.
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