Hambrecht Asia Acquisition exercises IPO over-allotment, $33.9 million gross proceeds
Hambrecht Asia Acquisition Corp. disclosed that underwriters of its initial public offering exercised the over-allotment option on March 31, 2008, for 239,300 additional units. The 4,239,300 units sold at $8.00 each generated gross proceeds of $33,914,400, and $33,527,396 has been placed in trust, including $1,550,000 from a private placement of warrants to founding stockholders. The filing names Hambrecht Asia Acquisition Corp. and does not reference Troops, Inc. or ticker TROO.
- Underwriters exercised the over-allotment option on March 31, 2008, for 239,300 additional units.
- Total of 4,239,300 units sold at $8.00 per unit, for gross proceeds of $33,914,400.
- $33,527,396 placed in trust, including $1,550,000 from the founding stockholders' private warrant placement.
- Pro forma balance sheet as of March 31, 2008 is included as Exhibit 99.1.