NEW YORK, Aug. 15, 2022 (GLOBE NEWSWIRE) — Hainan Manaslu Acquisition Corp. (Nasdaq: HMACU) (the “Company”), a Cayman Islands exempt company formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or business combination with one or more businesses or entities, today announced the closing of its initial public offering (“IPO”) of 6,900,000 units at a price of $10.00 per unit, of which 900,000 units issued following the exercise by the underwriter of its over-allotment option, resulting in gross proceeds of $69,000,000.
The Company’s units began trading on the Nasdaq Global Market (“Nasdaq”) under the symbol “HMACU” on August 11, 2022. Each unit consists of one common share, one redeemable warrant and ‘a right. Each warrant entitles its holder to purchase one common share at an exercise price of $11.50 per share. Each right entitles its holder to receive one-tenth of an ordinary share upon the completion of the first business combination of the Company. Once the securities comprising the units begin trading separately, the common stock, warrants and rights are expected to trade on the Nasdaq under the symbols “HMAC”, “HMACW” and “HMACR”, respectively.
Ladenburg Thalmann & Co. Inc. acted as sole bookrunner for the IPO.
Concurrent with the closing of the IPO, the Company completed a private sale of 341,500 private placement units to Bright Winlong LLC, the Company’s sponsor, raising gross proceeds of $3,415,000. A total of $70,035,000, or $10.15 per unit sold in the IPO, was placed in trust.
A registration statement relating to the securities was declared effective by the SEC on August 10, 2022. The offering was made solely by means of a prospectus, copies of which may be obtained by contacting Ladenburg Thalmann & Co. Inc., Attn: Syndicate Department, 640 Fifth Ave, 4th Floor, New York, NY 10019, or by emailing [email protected] (phone number 1-800-573-2541). Copies of the registration statement may be viewed on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 territory.
ABOUT HAINAN MANASLU ACQUISITION CORP.
Hainan Manaslu Acquisition Corp. is a blank check corporation, also commonly referred to as a special purpose acquisition company, or SPAC, established for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, a similar reorganization or business combination with one or more businesses or entities. While the Company may pursue an initial business combination opportunity in any business, industry, sector or geographic location, the Company intends to focus on industries that complement the experience of its management team. and to capitalize on the ability of its management team and advisor to identify and acquire a business. However, the Company will not effect a first business combination with an entity or business with operations in China consolidated through a variable interest entity structure.
This press release contains statements that constitute “forward-looking statements”, including with respect to the search for an initial business combination. There can be no assurance that the net proceeds of the offering will be used as stated. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering. filed with the Securities and Exchange Commission (“SECOND”). Copies of the Company’s registration statement and prospectus are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Hainan Manaslu Acquisition Corp.
B3406, 34F, West Tower, Block B Guorui Building, 11 Guoxing Avenue
Haikou, Hainan Province, People’s Republic of China 570203
Wenyi Shen, Chief Financial Officer
E-mail: [email protected]