Ribbon Acquisition Corp announces the closing of a $50 million initial public offering. From Investing.com
New York, New York, Jan. 16, 2025 (GLOBE NEWSWIRE) — Ribbon Acquisition Corp (NASDAQ: RIBBU , the Company ) today announced the closing of its initial public offering (IPO) of 5,000,000 units at an offer price of 10.00 USD per unit. Each unit consists of one class A ordinary share and one right to receive one seventh (1/7) of one class A ordinary share upon completion of the initial business combination.
The units were listed on the NASDAQ Capital Market (NASDAQ) and began trading under the ticker symbol RIBBU on January 15, 2025. Once the securities comprising the units begin separate trading, the common stock and rights are expected to be listed on the NASDAQ under the symbols RIBB and RIBBR.
AGP/Alliance Global Partners (NYSE: ) acted as sole book-running manager for the offering. Benchmark Company, LLC acted as 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 acted as legal advisor to the Company and Loeb & Loeb LLP acted as legal advisor to AGP/Alliance Global Partners in the offering.
The registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on 14 January 2025. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting AGP/Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060 or by email at prospectus@allianceg.com. Copies of the registration statement may be accessed through the SEC’s website at http://www.sec.gov.
This press release will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws. papers of any such state or jurisdiction.
About Ribbon Acquisition Corp
The company is a blank check company incorporated in the Cayman Islands as an exempt limited liability company for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more companies or entities. While the Company intends to conduct a global search for target companies without being limited by geographic region, certain executive officers and independent directors are located 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 regional business environment, regulations, regulatory bodies and culture. The Company will not undertake an initial business combination with any company that is headquartered in China or has a majority of operations in China. The company is run by Mr. Angshuman (Bubai) Ghosh, Chief Executive Officer of the company, and Ms. Zhiyang (Anna) Zhou, the company’s chief financial officer.
Forward-looking statements
This press release contains statements that constitute forward-looking statements, including those related to the IPO and the pursuit of the 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 a number of conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary IPO prospectus filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.
Contact:
Ribbon Acquisition Corp
Anna Zhou
Chief Financial Officer
Email: anna.zhou@ribbonacquisitioncorp.com
Source: Ribbon Acquisition Corp
