INFOR Acquisition Corp.

INFOR Acquisition Corp.

June 02, 2015 08:33 ET

INFOR Acquisition Corp. Announces Exercise in Full and Closing of Over-Allotment Option for Additional $30 Million in Gross Proceeds

TORONTO, ONTARIO--(Marketwired - June 2, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

INFOR Acquisition Corp. ("INFOR Acquisition" or the "Company") is pleased to announce that, further to the $200,000,000 initial public offering of class A restricted voting units (the "Class A Restricted Voting Units") which closed on May 27, 2015, the underwriters have exercised their over-allotment option (the "Over-Allotment Option") in full to purchase an additional 3,000,000 Class A Restricted Voting Units under the Over-Allotment Option, at a price of $10.00 per unit. As a result of the exercise of the Over-Allotment Option, an aggregate of 23,000,000 Class A Restricted Voting Units have been issued and an aggregate of $230,000,000 has been deposited into an escrow account and will only be released upon certain prescribed conditions, as further described in the final prospectus dated May 15, 2015.

INFOR Financial Group Inc. ("INFOR") is the sponsor of INFOR Acquisition. INFOR is a leading independent merchant bank based in Toronto.

Concurrent with the exercise of the Over-Allotment Option, the Company's founders (the "Founders"), which includes INFOR, Element Investment Corp., a wholly-owned subsidiary of Element Financial Corporation, and the Company's independent directors, purchased an additional 75,000 Class B Units (the "Class B Units") at price of $10.00 per Class B Unit. Following the exercise of the Over-Allotment Option, the Founders own an aggregate of 5,968,750 Class B Shares and 875,000 Class B Units purchased at $10.00 per Class B Unit. In addition, certain directors of the Company own an aggregate of 105,000 Class A Restricted Voting Units.

This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. Copies of the final prospectus are available on SEDAR at www.sedar.com.

About INFOR Acquisition Corp.

INFOR Acquisition Corp. is a newly organized 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.

About INFOR Financial Group Inc.

INFOR is a leading independent merchant bank based in Toronto. INFOR provides innovative, independent, forward thinking financial and strategic advice to corporations, institutional investors, entrepreneurs and government entities. INFOR's asset management division currently is focused on infrastructure and structured credit investments. INFOR Financial Inc., a wholly-owned subsidiary of INFOR, is an independent investment bank that offers advice on mergers and acquisitions, risk management, private funds as well as corporate restructurings and derivative hedging strategies and, subject to regulatory approval, raising private capital.

Visit INFOR Financial Group at www.inforfg.com

Contact Information

  • Neil M. Selfe
    Chief Executive Officer
    INFOR Financial Group Inc.
    Chief Executive Officer and Director
    INFOR Acquisition Corp.
    (416) 646-2610