New York, NY, April 3, 2019 – Scarinci Hollenbeck's Securities & Investment Banking law group successfully provided legal support to the underwriters of the offering of securities of 8i Enterprises Acquisition Corp. which raised $50 million in an initial public offering (IPO) this week, selling 5 million units at $10 each. If the underwriters of the IPO exercise in full their 45-day option to buy an additional 750,000 units at the IPO price, proceeds would rise to $57.5 million.
A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission ("SEC") on March 27, 2019. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Chardan Capital Markets, LLC, 17 State Street, 21st floor, New York, New York 10004. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
"This is the second IPO this year in which we have represented the underwriter and sole-book-running manager, Chardan. The IPO market had been moribund for a number of years, but there has recently been a significant increase in the number of planned IPO's of size filed with the SEC. This is seen as a good sign for the expansion of the U.S economy," stated William R. Samuels.