Hennessy 3 HCAC, U, W
Closed October 17, 2018. Now NRCG. NRCG.WS
At the Closing, JFL Partners entered into a 180-day lock-up agreement.
Unit = 1 com + 3/4 wt.
1 Wt + 11.50 > 1 com. Call 18. Can be called cashless.
Trust - Based on funds in the trust account of approximately $261.5 million on June 30, 2018 (net of taxes payable), the estimated per share redemption price would have been approximately $10.19 Total $227,250,000
Trust IPO was $10.10
Deadline 18 months. Closed June 28, 2017. Dropdead Dec 28, 2018??
Credit Suisse, Stifel, IBanker
Trust account located in the United States. Trustee Continental.
Hennessy 1 acquired BlueBird. BLBD
Hennessy 2 aquired Daseke. DSKE
Our strategy will be to identify, acquire and, after our initial business combination, build, an industrial manufacturing, distribution or services business. Industrial manufacturers, distributors and service providers are companies that manufacture and/or distribute products or provide critical services to a broad range of customers and end use markets. We believe that an industrial “renaissance” is now underway in the United States
This is the third in a series of namesake blank check companies founded by Daniel J. Hennessy, a 25-year private equity veteran who has focused on investments in the industrial sector. His first, Hennessy Capital Acquisition Corp. I, launched with a $115 million offering in January 2014 and ultimately acquired school bus maker Blue Bird Corp., and his Hennessy Capital Acquisition Corp. II went on to combine with trucking company Daseke Inc. after raising $200 million in July 2015.
“We believe that potential sellers of target businesses will view the fact that our management team has successfully closed two business combinations with vehicles similar to our company as positive factors in considering whether or not to enter into a business combination with us,” Hennessy III said in its prospectus.