HL Acquisitions , a blank check company focused on acquiring a business in the hydrocarbon logistics and processing industry, raised $50 million by offering 5.0 million units at $10. The company originally planned to offer 4.25 million units.
Each unit consists of one ordinary share, one right to receive one-tenth of one ordinary share upon consummation of an acquisition, and one warrant redeemable for one share at $11.50.
HL Acquisitions plans to list on the Nasdaq under the symbol HCCHU. EarlyBirdCapital acted as lead manager on the deal.
