Draper Oakwood Technology Acquisition, Inc. Announces Closing of Over-Allotment Option in Connection With Its Initial Public Offering
DRAPER OAKWOOD TECH ACQUISITION (DOTAU)
US:NASDAQ Investor Relations:
ir.draperoakwood.com/investor-relations
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Draper Oakwood Technology Acquisition, Inc. (Nasdaq: DOTAU) ("Draper Oakwood" or the "Company"), a company formed for the purpose of entering into a merger, share exchange, asset acquisition or other similar business combination with one or more business entities, announced today that the underwriters of its initial public offering have exercised their over-allotment option in full to purchase 750,000 units and that the closing of the sale of such units has taken place. The option units were sold at an offering price of $10.00 per unit, generating additional gross proceeds of $7,500,000 to the Company and bringing total gross proceeds of the initial public offering to $57,500,000. In connection with the over-allotment option exercise, Draper Oakwood Investments, LLC, the Company’s sponsor, and EarlyBirdCapital, Inc., the representative of the underwriters, purchased additional units throug
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