Atlantic Acquisition Corp - ATACU, R


Updated 7/13/18. 

Merger HF Group Presentation Link

Preliminary Proxy

​Proxy - Atlantic shareholders will be entitled to redeem their Atlantic common stock for a full pro rata share of the trust account (currently anticipated to be no less than approximately $10.20 per share) net of taxes payable.

Unit = 1 com & 1 right. right= 1/10 No warrants.

Trust ~ $10.26  ? March 2018.   ~$45mm in trust.

Chardan, EarlyBird, I- Banker

40 mil at 10

IPO closed August 14, 2017

18 month deadline. Feb 14, 2019. Can extend to 24 months.  .20 added to trust each 3 month period.

Special meeting of shareholders to vote on the previously announced transaction with HF Group Holding Corporation, for Friday, August 10, 2018. The meeting will begin at 10:00 a.m. local time at the offices of Loeb & Loeb LLP, which are located at 345 Park Avenue, New York, New York 10154. The record date for those eligible to receive notice of and to vote at the special meeting of shareholders is July 16, 2018.

April 3 -  Atlantic (ATAC) announces merger agreement with HF Group, a foodservice distributor serving Chinese restaurants and other businesses in the Southeastern region of the United States. Merger Agreement.

Previous deals Sino Mercury and Ecompass which became Ifresh.

Number to be outstanding after this offering and sale of private units  
5,320,000 shares Common

4,320,000 rights

in order to extend the time available for us to consummate our initial business combination, our insiders or their affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the trust account $800,000, or $920,000 if the underwriters’ over-allotment option is exercised in full ($0.20 per share in either case), on or prior to the date of the applicable deadline, up to an aggregate of $1,600,000 (or $1,840,000 if the underwriters’ over-allotment option is exercised in full), or $0.40 per share.

Our efforts to identify a target business will not be limited to a particular industry or geographic region, although we intend to focus our efforts on seeking a business combination with a company or companies being operated by and/or serving ethnic minorities in the United States, especially within Asian-American communities.

Wai Fun Cheng, Ren Hua Zheng and Ying Chen and Chardan Capital Markets, LLC and/or their designees have committed to purchase from us an aggregate of 320,000 units, or “private units,” at $10.00 per unit, (for a total purchase price of $3,200,000) in a private placement that will occur simultaneously with the consummation of this offering. They have also agreed that if the over-allotment option is exercised by the underwriters, in full or in part, they and/or their designees will purchase from us private units, at a price of $10.00 per unit, (up to a maximum of 30,000 private units) in such number that is necessary to maintain in the trust account described in this prospectus an amount equal to $10.20 per share of common stock sold to the public in this offering.

Mr. Xu and Ms. He have experience with initial public offerings and business combinations for blank check companies. They have worked together on the formation, initial public offering and business combination for two blank check companies, Sino Mercury Acquisition Corp. (“Sino Mercury”) and E-compass Acquisition Corp. (“E-compass”). Mr. Xu served as President of Sino Mercury which consummated an initial public offering in September 2014 and closed its business combination with Wins Finance Holdings Inc. (“Wins Finance”) in October 2015, and served as Wins Finance’s President until July 2016. Ms. He served as Chief Financial Officer of Sino Mercury and served as Chief Finance Officer of Wins Finance until August 2016. Also, Mr. Xu was the Chairman and Chief Executive Officer of E-compass and Ms. He was the Chief Financial Officer of E-compass. E-compass consummated its initial public offering in August 2015, acquired NYM Holding, Inc. and reincorporated into the State of Delaware through its wholly owned subsidiary, iFresh, Inc. (“iFresh”), in February 2017. Mr. Xu served as Vice President of iFresh until March 2017 and Ms. He served as Chief Financial Officer of iFresh until May 2017.

 Mr. Xu has over 10 years of experience in mergers and acquisitions, including cross-border transactions involving the United States and China, and has successfully closed more than 10 transactions, which Mr. Xu actively participated in (in a variety of capacities) from initial deal sourcing and negotiation through consummation. Ms. He also has over 10 years of extensive experience with mergers and acquisitions, especially with respect to target sourcing, financial due diligence, deal structuring, negotiation and post-merger rule compliance. Mr. Su has experience and connections to investments and businesses operated by ethnic minorities which we believe will be a source of potential targets for us