SOURCE: Marathon Acquisition Corp.

August 24, 2006 18:25 ET

Marathon Acquisition Corp. Prices 37.5 Million Units in Initial Public Offering

NEW YORK, NY -- (MARKET WIRE) -- August 24, 2006 -- Marathon Acquisition Corp. (AMEX: MAQ.U) announced today the pricing of its initial public offering of 37.5 million units at $8.00 per unit. The Company expects to raise gross proceeds of approximately $300 million in this offering (excluding the proceeds from the exercise of the underwriters' over-allotment option, if any). Each unit consists of one share of common stock and one warrant to purchase an additional share of common stock. Initially, the units will be the only security trading.

The Company's units are expected to begin trading on the American Stock Exchange (Amex) under the ticker symbol MAQ.U on or about August 25, 2006. The common stock and warrants will begin separate trading five business days after the earlier of expiration of the underwriters' over-allotment option or its exercise in full, subject to the filing of a report on Form 8-K with the SEC that reflects the receipt of the gross proceeds of the public offering. The Company will also issue a press release announcing the time at which separate trading of the common stock and warrants will begin.

The lead underwriter for the offering is Citigroup Global Markets Inc., with Ladenburg Thalmann and UBS Securities acting as co-managers.

The Company intends to utilize the net proceeds from this offering to acquire one or more operating businesses through a merger, stock exchange, asset acquisition, reorganization or similar business combination.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 such state or jurisdiction. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, by contacting Citigroup Prospectus Delivery, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220 (telephone: 1-800-831-9146 or e-mail:

Forward-Looking Statements

This press release may contain certain forward-looking statements including statements with regard to the future performance of the Company. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in the Company's Prospectus and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Media Contact:
    Michael Gross
    (212) 993-1670