-- The company of entrepreneur Mario Garnero completes its IPO on the Nasdaq with a total intake of US$ 125 million
SAO PAULO, July 1, 2014 /PRNewswire/ -- The Garnero Group Acquisition Company (GGAC), a company focusing on mergers, capital swaps and asset acquisitions, announced today, July 1st, the end of its public stock offering (IPO) on the Nasdaq, one of the world's leading stock exchanges.
The company raised US$ 125 million with the operation, which placed 12.5 million shares of company stock on the market with an initial value of US$10 per lot for its shareholders. The offering was concluded only one week after the company received authorization for it from the SEC (Securities and Exchange Commission).
EarlyBirdCapital, Inc. was the only bookrunner and managing underwriter for this offering. The U.S. companies Aegis Capital, Ladenburg Thalmann and I-Bankers were its co-underwriters.
Company – The Garnero Group Acquisition Company is a recently founded company whose purpose it is to carry out mergers, capital swaps, asset acquisitions or other similar commercial combinations with one or more companies or entities.
According to the CEO of the Garnero Group, Mario Garnero, the company's efforts to identify a business will not be confined to a specific industry or geographic region. "However, we intend to concentrate our focus initially on companies located in Latin America, with special emphasis on Brazil and Europe," he concluded.
He explains that the company strategy is to map the existing opportunities, chiefly in the energy segment, including renewables, and the biotechnology industry operating outside the countries that have a big potential market for each segment.
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SOURCE Garnero Group Acquisition Company