MTech Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering
January 30, 2018
NEW YORK–(BUSINESS WIRE)–MTech Acquisition Corp. (NASDAQ: MTECU, the “Company” or “MTech”) announced today that it priced its initial public offering of 5,000,000 units at $10.00 per unit. The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) and trade under the ticker symbol “MTECU” beginning January 30, 2018. Each unit consists of one share of Class A common stock and one warrant, each warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “MTEC” and “MTECW,” respectively.
The underwriters have been granted a 45-day option to purchase up to an additional 750,000 units offered by the Company to cover over-allotments, if any.
The offering is expected to close on February 1, 2018 subject to customary closing conditions.
EarlyBirdCapital, Inc., acted as sole book-running manager of the offering.
MTech Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus its search on companies ancillary to the cannabis industry, with a particular sector focus that includes compliance, business intelligence, brand development and media.
MTech is led by Executive Chairman Steven Van Dyke and Chief Executive Officer Scott Sozio.
Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.