New York, June 28, 2018 (GLOBE NEWSWIRE) -- Twelve Seas Investment Company (NASDAQ: TWLVU, the “Company”) announced today the
closing of the issuance of an additional 2,700,000 units pursuant to the underwriters’ over-allotment option in connection with its
initial public offering. The offering was priced at $10.00 per unit, generating additional gross proceeds of $27,000,000.
The Company’s units began trading on The NASDAQ Capital Market (“NASDAQ”) on June 20, 2018 and trade under the ticker symbol
“TWLVU”. Each unit consists of one ordinary share, one warrant to purchase one ordinary share at a price of $11.50 per share, and
one right to receive one-tenth of one ordinary share upon the consummation of the Company’s initial business combination. Once the
securities comprising the units begin separate trading, the ordinary shares, rights and warrants are expected to be listed on
NASDAQ under the symbols “TWLV,” “TWLVR,” and “TWLVW,” respectively.
Of the proceeds received from the consummation of the initial public offering (as well as the exercise of the over-allotment
option) and simultaneous private placements of units, $207,000,000 (or $10.00 per unit sold in the public offering) was placed in
trust. An unaudited balance sheet of the Company as of June 28, 2018 reflecting receipt of the proceeds upon consummation of the
initial public offering (as well as the exercise of the over-allotment option) and the private placements will be included as an
exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller LLP acted as counsel to the
underwriters.
EarlyBirdCapital, Inc., acted as sole book running manager and I-Bankers Securities acted as co-manager of the offering.
About Twelve Seas Investment Company
Twelve Seas Investment Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset
acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or
entities. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or
geographic region.
Twelve Seas Investment Company is led by Chairman Neil Richardson, Chief Executive Officer Dimitri Elkin, Chief Operating
Officer Bryant B. Edwards, President Stephen A. Vogel, and Chief Financial Officer Stephen N. Cannon.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June
19, 2018. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or jurisdiction.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause
actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s
expectations with respect thereto or any change in events, conditions or circumstances on which any statement is
based.
Dimitri Elkin Twelve Seas Investment Company +1 310 909 9700
