The units are expected to be listed on the NASDAQ Capital Market ("NASDAQ") and trade under the ticker symbol "STLRU" beginning today. The closing of the Company's initial public offering is expected to be consummated on or about August 24, 2016. Each unit consists of one share of the Company's common stock and one warrant, enabling the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on NASDAQ under the symbols "STLR" and "STLRW," respectively.
Maxim Group LLC is acting as sole book-running manager for the offering. Chardan Capital Markets, LLC and EarlyBirdCapital, Inc. are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 975,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from Maxim Group LLC, 405 Lexington Ave., New York, NY 10174, Attn: Prospectus Department or by Tel: (800) 724-0751.
A registration statement relating to the securities has been declared effective by the SEC on August 18, 2016. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these 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 such state or jurisdiction.
About Stellar
Stellar is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a target business will not be limited to a particular industry or geographic region, although it intends to focus efforts on seeking a business combination with a company or companies in the international oil and gas logistics, land and maritime oil and gas transportation, terminal and energy storage industries.
Stellar Acquisition III Inc.
