NEW YORK, July 20, 2011 /PRNewswire/ -- Blue Wolf Mongolia
Holdings Corp. (the "Company") (NASDAQ: MNGL), announced today that
the underwriters for its initial public offering have exercised
their over-allotment option in full and that it has closed its
initial public offering for gross proceeds of $80,500,000. The Company sold 8,050,000 units at
a price of $10.00 per unit. Each unit
issued in the initial public offering consisted of one ordinary
share and one warrant to purchase one ordinary share at an exercise
price of $12.00 per share.
The Company is a newly-organized blank check company formed for
the purpose of acquiring or merging with an operating business.
Initially, the units will be the only security trading. The
Company's units began trading on the NASDAQ Capital Market under
the ticker symbol "MNGLU" on July 15,
2011. The ordinary shares and warrants comprising the units
will begin separate trading on September 5,
2011 (or such earlier date as the underwriter may permit),
subject to the Company's filing a Current Report on Form 8-K with
the Securities and Exchange Commission containing an audited
balance sheet reflecting its receipt of the gross proceeds of the
offering and issuing a press release announcing when such separate
trading will begin.
The Company has deposited $80,237,500 (including $3,125,000 from a private placement of 4,166,667
warrants to the Company's sponsor), or approximately $9.97 per share, into a trust account maintained
by Continental Stock Transfer & Trust Company acting as the
trustee. The funds will not be released from the trust account
except under certain limited circumstances as described in the
prospectus relating to the offering.
Deutsche Bank Securities Inc. acted as sole book-running manager
and representative of the underwriters of the offering.
A registration statement relating to these units and the
underlying securities was declared effective by the Securities and
Exchange Commission on July 14, 2011.
This press release shall not constitute an offer to sell nor the
solicitation of an offer to buy any 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 any state or jurisdiction. Copies of
the final prospectus relating to the offering can be obtained from
the U.S. Securities and Exchange Commission website at
http://www.sec.gov. Alternatively, a copy of the prospectus related
to this offering may be obtained from Deutsche Bank Securities
Inc., 100 Plaza One, Jersey City,
NJ 07311 (Attn: Prospectus Department), (800) 503-4611, or
email at prospectus.cpdg@db.com.
About Blue Wolf Mongolia Holdings Corp.
Blue Wolf Mongolia Holdings Corp. is a newly-organized blank
check company formed for the purpose of acquiring or merging with
an operating business, with a primary focus on Mongolia. The Company's target business will
not be limited to a particular industry or geographic region.
For more information, please contact:
Nicolas Edwards
President and Chief Financial Officer
Blue Wolf Mongolia Holdings Corp.
Telephone: (203) 524-5272
SOURCE Blue Wolf Mongolia Holdings Corp.