Ribbon Acquisition Corp Prices $50 Million Initial Public Offering
Ribbon Acquisition Corp, a Cayman Islands-based blank check company, has announced the pricing of its initial public offering (IPO) of 5,000,000 units at $10.00 per unit. Each unit comprises one Class A ordinary share and one right to receive one-seventh of one Class A ordinary share upon completing an initial business combination.
The units will trade on Nasdaq under the symbol 'RIBBU' starting January 15, 2025, with the IPO expected to close around January 16, 2025. Once separate trading begins, the Class A shares and rights will trade under 'RIBB' and 'RIBBR' respectively.
A.G.P./Alliance Global Partners is the sole book-running manager, with The Benchmark Company as co-manager. The underwriters have a 45-day option to purchase up to 750,000 additional units to cover over-allotments.
Ribbon Acquisition Corp, una societ脿 di blank check con sede nelle Isole Cayman, ha annunciato la determinazione del prezzo della sua offerta pubblica iniziale (IPO) di 5.000.000 di unit脿 a 10,00 $ per unit脿. Ogni unit脿 comprende una azione ordinaria di Classe A e un diritto di ricevere un settimo di un'azione ordinaria di Classe A al completamento di una combinazione aziendale iniziale.
Le unit脿 saranno negoziate su Nasdaq con il simbolo 'RIBBU', a partire dal 15 gennaio 2025, con la IPO prevista per chiudere attorno al 16 gennaio 2025. Una volta che il trading separato avr脿 inizio, le azioni di Classe A e i diritti saranno scambiati rispettivamente con 'RIBB' e 'RIBBR'.
A.G.P./Alliance Global Partners 猫 il principale gestore dell'offerta, con The Benchmark Company come co-gestore. Gli underwriter hanno un'opzione di 45 giorni per acquistare fino a 750.000 unit脿 aggiuntive per coprire eventuali eccedenze.
Ribbon Acquisition Corp, una empresa de cheques en blanco con sede en las Islas Caim谩n, ha anunciado el precio de su oferta p煤blica inicial (IPO) de 5.000.000 de unidades a 10,00 $ por unidad. Cada unidad comprende una acci贸n ordinaria de Clase A y un derecho a recibir un s茅ptimo de una acci贸n ordinaria de Clase A al completar una combinaci贸n empresarial inicial.
Las unidades se negociar谩n en Nasdaq bajo el s铆mbolo 'RIBBU' a partir del 15 de enero de 2025, con la IPO prevista para cerrar alrededor del 16 de enero de 2025. Una vez iniciado el comercio separado, las acciones de Clase A y los derechos se negociar谩n bajo 'RIBB' y 'RIBBR', respectivamente.
A.G.P./Alliance Global Partners es el 煤nico administrador de la oferta, con The Benchmark Company como coadministrador. Los suscriptores tienen una opci贸n de 45 d铆as para comprar hasta 750.000 unidades adicionales para cubrir sobreasignaciones.
Ribbon Acquisition Corp, 旒鞚措Ж 鞝滊弰鞐 氤胳偓毳 霊 敫旊灜韥 觳错伂 須岇偓, 5,000,000臧 鞙犽嫑鞚 靸侅灔瓿惦 (IPO) 臧瓴╈潉 鞙犽嫑雼 10.00雼煬搿 氚滍憸頄堨姷雼堧嫟. 臧 鞙犽嫑鞚赌 韥措灅鞀 A 氤错喌欤 1欤检檧 斓滌磮 靷梾 瓴绊暕 鞕勲 鞁 韥措灅鞀 A 氤错喌欤 1欤 攵勳潣 1/7鞚 靾橂牴頃 靾 鞛堧姅 甓岆Μ毳 韽暔頃╇媹雼.
鞙犽嫑鞚赌 Nasdaq鞐愳劀 'RIBBU'霛茧姅 旮绊樃搿 2025雲 1鞗 15鞚茧秬韯 瓯半灅霅 鞓堨爼鞚措┌, IPO電 2025雲 1鞗 16鞚缄步鞐 毵堦皭霅 鞓堨爼鞛呺媹雼. 氤勲弰 瓯半灅臧 鞁滌瀾霅 頉 韥措灅鞀 A 欤检嫕瓿 甓岆Μ電 臧侁皝 'RIBB'鞕 'RIBBR'搿 瓯半灅霅╇媹雼.
A.G.P./Alliance Global Partners臧 雼弲 欤缄磤 甏毽瀽搿, The Benchmark Company臧 瓿惦彊 甏毽瀽鞛呺媹雼. 鞚胳垬鞐呾泊霌れ潃 於旉皜 頃犽嫻鞚 於╇嫻頃橁赴 鞙勴暣 750,000臧滌潣 於旉皜 鞙犽嫑鞚 甑Г頃 靾 鞛堧姅 45鞚 鞓奠厴鞚 臧歆瓿 鞛堨姷雼堧嫟.
Ribbon Acquisition Corp, une soci茅t茅 de ch猫ques en blanc bas茅e aux 卯les Ca茂mans, a annonc茅 le prix de son premier appel public 脿 l'茅pargne (IPO) de 5 000 000 d'unit茅s 脿 10,00 $ par unit茅. Chaque unit茅 comprend une action ordinaire de Classe A et un droit de recevoir un septi猫me d'une action ordinaire de Classe A lors de la r茅alisation d'une premi猫re combinaison d'affaires.
Les unit茅s seront cot茅es sur Nasdaq sous le symbole 'RIBBU' 脿 partir du 15 janvier 2025, l'IPO devant se clore aux alentours du 16 janvier 2025. Une fois que le n茅goce s茅par茅 commence, les actions de Classe A et les droits seront 茅chang茅s respectivement sous 'RIBB' et 'RIBBR'.
A.G.P./Alliance Global Partners est le seul gestionnaire de l'offre, avec The Benchmark Company comme co-gestionnaire. Les souscripteurs ont une option de 45 jours pour acheter jusqu'脿 750 000 unit茅s suppl茅mentaires pour couvrir les surallocations.
Ribbon Acquisition Corp, ein Unternehmen mit leerem Scheck aus den Kaimaninseln, hat den Preis seiner Erst-脰ffentlichen-Aktien-Angebot (IPO) von 5.000.000 Einheiten zu je 10,00 $ pro Einheit bekannt gegeben. Jede Einheit besteht aus einer Stammaktie der Klasse A und einem Recht, ein Siebtel einer Stammaktie der Klasse A nach Abschluss einer ersten Gesch盲ftskombination zu erhalten.
Die Einheiten werden ab dem 15. Januar 2025 an Nasdaq unter dem Symbol 'RIBBU' gehandelt, wobei das IPO voraussichtlich um den 16. Januar 2025 abgeschlossen sein wird. Sobald der separate Handel beginnt, werden die Stammaktien der Klasse A und die Rechte unter 'RIBB' bzw. 'RIBBR' gehandelt.
A.G.P./Alliance Global Partners ist der alleinige Buchf眉hrungsmanger, w盲hrend The Benchmark Company als Co-Manager fungiert. Die Konsortialbanken haben eine 45-t盲gige Option, bis zu 750.000 zus盲tzliche Einheiten zum Abdecken von 脺berzeichnungen zu kaufen.
- IPO raises $50 million through 5,000,000 units at $10.00 each
- Listing on Nasdaq provides increased visibility and trading liquidity
- 45-day over-allotment option could add $7.5 million in additional capital
- Blank check structure carries inherent uncertainty until business combination is identified
- 1/7 right structure creates potential future dilution for shareholders
Insights
The SPAC market is showing signs of life with Ribbon Acquisition Corp's
The modest size of this SPAC (
While SPAC activity has significantly cooled since the 2020-2021 boom, this IPO indicates continued selective appetite for blank check vehicles, particularly in the lower middle market where traditional IPO options are The Cayman Islands incorporation suggests potential interest in international targets, possibly in Asia-Pacific markets where A.G.P. has strong relationships.
The S-1 registration effectiveness and rapid pricing announcement demonstrates efficient SEC review process turnaround. The inclusion of a 45-day overallotment option is standard market practice, providing price stability support during initial trading. Key legal considerations include the Cayman Islands domicile, which offers tax advantages but requires additional regulatory compliance measures for US investors.
The rights structure (1/7 share per right) represents a more shareholder-friendly approach compared to traditional warrant-heavy SPAC structures. This mechanism potentially reduces future dilution while still providing upside participation for IPO investors. The dual counsel arrangement between Sichenzia Ross and Loeb & Loeb ensures robust legal framework for both issuer and underwriter sides, critical for SPAC governance and eventual business combination process.
New York, New York, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Ribbon Acquisition Corp, a blank check company incorporated in the Cayman Islands as an exempted company (the 鈥淐ompany鈥), today announced the pricing of its initial public offering (鈥淚PO鈥) of 5,000,000 units at an offering price of
A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering. The Benchmark Company, LLC is acting as the co-manager for the offering.
The Company has granted the underwriters a 45-day option to purchase up to 750,000 units at the initial public offering price to cover over-allotments, if any.
Sichenzia Ross Ference Carmel LLP served as legal counsel to the Company and Loeb & Loeb LLP served as legal counsel to A.G.P./Alliance Global Partners in the offering.
A registration statement on Form S-1 relating to the securities (File No. 333-281806) was previously filed with the Securities and Exchange Commission ("SEC") and was declared effective by the SEC on January 14, 2025. This offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the prospectus may be obtained on the SEC鈥檚 website at . Electronic copies of the prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at .
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Ribbon Acquisition Corp
The Company is a blank check company incorporated in the Cayman Islands as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company intends to conduct a global search for target businesses without being limited by geographic region, certain executive officers and independent directors are based in Hong Kong, and certain executive officers have experience investing in and building businesses in the Asia Pacific region and have a deep understanding of the region鈥檚 business environment, regulations, regulatory bodies and culture. The Company will not undertake an initial business combination with any company being based in or having the majority of the company鈥檚 operations in Greater China. The Company is led by Mr. Angshuman (Bubai) Ghosh, the Company鈥檚 Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, the Company鈥檚 Chief Financial Officer.
Forward-Looking Statements
This press release contains statements that constitute 鈥渇orward-looking statements,鈥 including with respect to the IPO and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company鈥檚 registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC鈥檚 website,聽. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Ribbon Acquisition Corp
Anna Zhou
Chief Financial Officer
贰尘补颈濒:听
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