1347 Capital Corp. Closes Over-Allotment Option

The underwriters exercised their over-allotment option, resulting in the sale of an additional 600,000 units for $6,000,000. The sponsor also purchased additional private units.

“On July 23, 2014, the Company completed the sale of 600,000 additional Units pursuant to the exercise of the over-allotment option granted to the underwriters of the IPO. The Units issued pursuant to the over-allotment option were sold at a price of $10.00 per Unit, generating gross proceeds of $6,000,000.”

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