KBL Merger Corp. IV, a blank check company formed by Dr. Marlene Krauss of KBL Healthcare Ventures, raised $100 million on Thursday by offering 10 million units at $10.
Each unit consists of one share of the company's common stock, one right to receive one-tenth of one share of common stock upon the consummation of the initial business combination, and one warrant exercisable to purchase one-half of one share of common stock at a price of $5.75 per half share ($11.50 per whole share).
KBL Merger Corp. IV plans to list on the Nasdaq under the symbol KBLMU. Ladenburg Thalmann & Co., B. Riley & Co. and FBR Capital Markets acted as joint bookrunners on the deal.
