CAPITOL INVESTMENT CORP. IV (NYSE:MTB-A.CL) Files An 8-K Other EventsItem 8.01. Other Events
On August 21, 2017, Capitol Investment Corp. IV (the “Company”) consummated the initial public offering (“IPO”) of 40,250,000 of its units (“Units”), including 5,250,000 Units that were subject to the underwriters’ over-allotment option. Each Unit consists of one Class A ordinary share, $.0001 par value per share (“Ordinary Share”), and one third of one redeemable warrant (“Warrant”), each whole Warrant to purchase one Ordinary Share at an exercise price of $11.50 per share. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $402,500,000.
Simultaneously with the consummation of the IPO, the Company consummated the private sale (“Private Placement”) of 6,533,333 warrants (“Private Placement Warrants”) at a price of $1.50 per Private Placement Warrant, generating total proceeds of $9,800,000. The Private Placement Warrants were purchased by Capitol Acquisition Management IV LLC, one of the Company’s sponsors and an affiliate of Mark D. Ein, the Company’s Chairman and Chief Executive Officer, Capitol Acquisition Founder IV, LLC, the Company’s other sponsor and an affiliate of L. Dyson Dryden, the Company’s President and Chief Financial Officer, and Lawrence Calcano, Brooke B. Coburn and Richard C. Donaldson, each a director of the Company. The Private Placement Warrants are identical to the Warrants included in the Units sold in the IPO except that the Private Placement Warrants are exercisable on a cashless basis and, if the Company calls the Warrants for redemption, the Private Placement Warrants will not be redeemable by the Company so long as they are held by these purchasers or their permitted transferees. The purchasers of the Private Placement Warrants have agreed that the Private Placement Warrants will not be sold or transferred by them (except in limited situations) until 30 days after the Company has completed a business combination.
An audited balance sheet as of August 21, 2017 reflecting receipt of the proceeds received by the Company in connection with the consummation of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
Copies of the press releases issued by the Company announcing the effectiveness of the Registration Statement, the exercise of the over-allotment option and closing of the IPO are included as Exhibits 99.2, 99.3 and 99.4, respectively, to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits
Capitol Investment Corp. IV ExhibitEX-99.1 2 f8k082117ex99-1_capitol.htm AUDITED BALANCE SHEET Exhibit 99.1 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Audit Committee of the Board of Directors and Shareholders of Capitol Investment Corp. IV We have audited the accompanying balance sheet of Capitol Investment Corp. IV (the “Company”) as of August 21,…To view the full exhibit click here
CAPITOL INVESTMENT CORP. IV (NYSE:MTB-A.CL) Recent Trading Information
CAPITOL INVESTMENT CORP. IV (NYSE:MTB-A.CL) closed its last trading session at 25.40 with shares trading hands.