Thunder Bridge Acquisition, Ltd. Announces Private Placement Transaction, Amendment of Merger Agreement and Proposed Amendment to Outstanding Warrants
THUNDER BRIDGE ACQUISITION LTD UNIT (TBRGU)
Company Research
Source: PR Newswire
GREAT FALLS, Va. and ATLANTA, May 9, 2019 /PRNewswire/ -- Thunder Bridge Acquisition, Ltd. (NASDAQ: TBRG) ("Thunder Bridge"), a special purpose acquisition company, today announced that it has agreed to issue and sell 13.5 million Class A ordinary shares at a price of $10.00 per share in a private placement to investors including funds and accounts managed by institutional investors Neuberger Berman Investment Advisers LLC, Baron Funds and BlackRock, Inc. for gross proceeds of $135 million. Concurrently with this transaction, certain of the institutional investors entered into a lock-up agreement under which they have agreed not to sell shares or warrants acquired in connection with the private placement for 120 days following the closing of the previously announced business combination with Repay Holdings, LLC and Hawk Parent Holdings, LLC (together, "REPAY") in exchange for receiving from Thunder Bridge Acquisition LLC (the "Sponsor") previously-issued private placement warrants to
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