Prime Announces Warrant Distribution to Public Shareholders

Business Wire

SHIJIAZHUANG, China--(BUSINESS WIRE)--

Prime Acquisition Corp. (“Prime” or the “Company”) (NASDAQ: Common Stock: “PACQ”, Units: “PACQU”, Warrants: “PACQW”), a company focused on building a portfolio of diversified, high yield-producing assets, and privately held bhn LLC (“bhn”), the manager responsible for managing the assets of Prime, today announced that its Board of Directors has set the record and payment dates for the distribution of one warrant per every four outstanding ordinary shares issued in Prime’s initial public offering to public shareholders as of the record date (with the number of warrants rounded down to the nearest whole number), which was previously announced in a March 18, 2013, press release. Each warrant will have the same terms and conditions as the warrants included in the units sold in Prime’s initial public offering, and entitles the holder to purchase one ordinary share of Prime exercisable at a strike price of $7.50 per share and expiring on March 24, 2016, unless earlier redeemed.

The warrants will be issued on October 24, 2013, to shareholders of record on October 14, 2013.

About Prime Acquisition Corp.

Prime Acquisition Corp. is a Cayman Islands corporation focused on building a portfolio of high yield-producing assets, including green certificates from solar plants and quality commercial real estate assets in Europe.

About bhn LLC

Bhn LLC is the manager responsible for managing the assets of Prime and is the U.S.-based affiliate of bhn S.r.l., a leading financial and strategic advisory boutique based in Milan specializing in mergers and acquisitions, debt management and restructuring, capital markets and real estate. The company focuses primarily on European opportunities in Italy, Spain and Greece.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Prime Acquisition Corp., bhn LLC, and their combined business. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Prime’s and bhn’s managements, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to meaningfully differ from those set forth in the forward-looking statements:

  • Continued compliance with government regulations;
  • Changing legislation or regulatory environments;
  • Requirements or changes affecting the businesses in which bhn is engaged;
  • Industry trends, including factors affecting supply and demand;
  • Labor and personnel relations;
  • Credit risks affecting the combined business’ revenue and profitability;
  • Changes in the real estate industry;
  • Bhn’s ability to effectively manage its growth, including implementing effective controls and procedures and attracting and retaining key management and personnel;
  • Changing interpretations of generally accepted accounting principles;
  • General economic conditions; and
  • Other relevant risks detailed in Prime’s filings with the Securities and Exchange Commission.

The information set forth herein should be read in light of such risks. Neither Prime nor bhn assumes any obligation to update the information contained in this press release.

Contact:
At the Company
Bhn LLC
Marco Prete
Chairman
mp@bhnnyc.com
or
Investor Relations
The Equity Group Inc.
Carolyne Yu, 415-568-2255
Senior Associate
cyu@equityny.com
or
Adam Prior, 212-836-9606
Senior Vice President
aprior@equityny.com
View Comments