Gibraltar Growth Corporation

Gibraltar Growth Corporation

October 29, 2015 07:49 ET

Gibraltar Growth Corporation Announces Exercise and Closing of Over-Allotment Option

TORONTO, ONTARIO--(Marketwired - Oct. 29, 2015) -

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

Gibraltar Growth Corporation (the "Corporation") is pleased to announce that, further to the $100,000,000 initial public offering of Class A Restricted Voting Units which closed on October 2, 2015, the underwriters have exercised their over-allotment option (the "Over-Allotment Option") to purchase an additional 450,000 Class A Restricted Voting Units, at a price of $10.00 per unit. As a result of the exercise of the Over-Allotment Option, an aggregate of 10,450,000 Class A Restricted Voting Units have been issued and an aggregate of $104,500,000 has been deposited into an escrow account and will only be released upon certain prescribed conditions, as further described in the final prospectus of the Corporation dated September 25, 2015.

Gibraltar Opportunity, Inc. ("Gibraltar Opportunity") is the sponsor of the Corporation and a wholly-owned subsidiary of Gibraltar & Company, Inc. ("Gibraltar"), a Toronto-based private investment management company.

Concurrent with the exercise of the Over-Allotment Option, the Corporation's senior management, founders, directors and advisory board members (together, the "Founders") invested an additional $112,500 in the Corporation, either directly or indirectly through Gibraltar, through an aggregate purchase of 11,250 Class B Units at an offering price of $10.00 per Class B Unit. Due to the partial exercise of the Over-Allotment Option, the Founders will forfeit an aggregate of 269,062 Founders' Shares. As a result, following the exercise of the Over-Allotment Option and forfeiture of the Founders' Shares, the Founders own an aggregate of 2,715,313 Class B Shares and 411,250 Class B 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 Gibraltar Growth Corporation

Gibraltar Growth Corporation is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying acquisition.

About Gibraltar Opportunity, Inc.

Gibraltar Opportunity, Inc. is a wholly-owned subsidiary of Gibraltar & Company, Inc., and the sponsor of Gibraltar Growth Corporation. Gibraltar Opportunity, Inc. provides advisory and revenue acceleration services to consumer-facing companies in technology and non-technology sectors, and will invest in non-technology opportunities directly and through Gibraltar Growth Corporation.

About Gibraltar & Company, Inc.

Gibraltar & Company, Inc. is a Toronto-based private investment management company involved in investment and advisory activities through two-wholly owned operating subsidiaries, Gibraltar Opportunity, Inc. and Gibraltar Ventures, Inc.

Forward-Looking Statements

This press release may contain forwardlooking information within the meaning of applicable securities legislation, which reflects Gibraltar Opportunity's and the Corporation's current expectations regarding future events. Forwardlooking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Gibraltar Opportunity's or the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forwardlooking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and related transactions, and the factors discussed under "Risk Factors" in the final prospectus of the Corporation dated September 25, 2015. Neither Gibraltar Opportunity nor the Corporation undertake any obligation to update such forwardlooking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contact Information

  • Gibraltar Growth Corporation
    Jeremy Stepak
    Chief Financial Officer
    (416) 583-1692