Ribbon Acquisition Corp Completes $50 Million IPO Successfully
Ribbon Acquisition Corp Closes Initial Public Offering
Ribbon Acquisition Corp (NASDAQ: RIBBU) has successfully concluded its initial public offering (IPO), raising a total of $50 million. This significant milestone has positioned the company favorably in today's competitive market.
Details of the Initial Public Offering
The IPO involved the sale of 5,000,000 units, with each unit priced at $10.00. Each unit comprises one Class A ordinary share and a right to obtain one-seventh of another Class A ordinary share upon the completion of an initial business combination.
Trading and Listing Information
After the IPO, these units are set to trade on The NASDAQ Capital Market under the trading symbol “RIBBU.” It is expected that the ordinary shares and rights associated with each unit will eventually trade under the symbols “RIBB” and “RIBBR” respectively, as they begin separate trading.
Underwriting and Legal Counsel
A.G.P./Alliance Global Partners played a crucial role as the sole book-running manager for the IPO. The Benchmark Company, LLC assisted as the co-manager. The legal framework guiding the offering involved Sichenzia Ross Ference Carmel LLP serving as legal counsel to Ribbon Acquisition Corp and Loeb & Loeb LLP advising A.G.P./Alliance Global Partners.
Support for Over-Allotments
The underwriters have been granted a 45-day option to buy an additional 750,000 units at the IPO price to cover any over-allotments. This strategic decision aims to enhance market stability and investor confidence.
About Ribbon Acquisition Corp
Ribbon Acquisition Corp is a blank check company, structured to pursue mergers, asset acquisitions, or similar business arrangements. The company is focused on a global search for potential target businesses, though it has a particular expertise and presence in the Asia Pacific region. The leadership team, including CEO Mr. Angshuman (Bubai) Ghosh and CFO Ms. Zhiyang (Anna) Zhou, brings extensive experience and insight into the regional business landscape.
Geographical Focus
While observing a global approach in identifying targets, Ribbon Acquisition Corp will not engage with companies primarily based in Greater China. This clear directive helps navigate regulatory and operational complexities unique to that region.
Future Aspirations and Innovations
As Ribbon Acquisition Corp embarks on its journey post-IPO, it remains committed to innovating and unlocking value through strategic acquisitions. The management team is keen on leveraging its deep understanding of market dynamics and trends to identify lucrative opportunities.
Connecting with Investors
For those interested in further engagement with Ribbon Acquisition Corp, inquiries can be directed to their CFO via email. The emphasis on investor communication reflects the company’s commitment to transparency and accountability in their operations.
Frequently Asked Questions
What is the primary purpose of Ribbon Acquisition Corp?
Ribbon Acquisition Corp aims to effect mergers, share exchanges, and other business combinations with various businesses or entities.
When did Ribbon Acquisition Corp complete its IPO?
The company completed its IPO recently, raising $50 million through the sale of units trading on NASDAQ.
Who managed the Ribbon Acquisition Corp IPO?
A.G.P./Alliance Global Partners served as the sole book-running manager for the offering, with support from The Benchmark Company, LLC.
Is Ribbon Acquisition Corp focused on a specific region for its target businesses?
While Ribbon Acquisition Corp is conducting a global search, it is specifically not pursuing companies based in Greater China.
How can investors contact Ribbon Acquisition Corp for inquiries?
Investors can reach out via email to the Chief Financial Officer, Anna Zhou, for further engagement.
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