Highlands Acquisition Corp. Announces Exercise of Over-Allotment Option
October 15 2007 - 12:43PM
PR Newswire (US)
NEW YORK, Oct. 15 /PRNewswire-FirstCall/ -- Highlands Acquisition
Corp. (AMEX:HIA.U), (the "Company") announced today that the
underwriters for the Company's initial public offering have
exercised in full their over-allotment option relating to the
Company's initial public offering. As a result, the Company sold an
additional 1,800,000 units with each unit consisting of one share
of common stock and one warrant to purchase one share of common
stock. The 1,800,000 units sold pursuant to the over-allotment
option were sold at an offering price of $10.00 per unit,
generating total gross proceeds of $18,000,000. Of this amount,
$17,280,000 (or approximately $9.60 per unit) has been placed in
trust, including $540,000 of deferred underwriters discounts and
commissions. A registration statement relating to the units was
filed and declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the securities of
Highlands Acquisition Corp., nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering was made only by means of a prospectus,
copies of which may be obtained from Citi, Brooklyn Army Terminal,
140 58th Street, 8th Floor, Brooklyn, New York, 11220. About
Highlands Acquisition Corp. Highlands Acquisition Corp. is a newly
organized blank check company formed for the purpose of effecting a
merger, capital stock exchange, stock purchase, asset acquisition
or other similar business combination with one or more operating
businesses. The Company's efforts in identifying a prospective
target business will not be limited to a particular industry,
although it initially intends to focus its search for a target
business in the healthcare industry. Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. These forward-looking
statements inherently involve risks and uncertainties that are
detailed in the Company's prospectus and other filings with the
Securities and Exchange Commission and, therefore, actual results
could differ materially from those projected in the forward-looking
statements. The Company assumes no obligation to update publicly or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: Highlands
Acquisition Corp. CONTACT: Robert W. Pangia, Chief Executive
Officer of Highlands Acquisition Corp., +1-201-573-8400, Web site:
http://www.highlandscorp.com/
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