Monocle Acquisition Corporation (MNCLU) Goes to 101% in Trust
MNCLU Expected to Price Tonight for Trading Tomorrow
Monocle Acquisition Corporation (MNCLU), revised terms and re-filed their S-1 this morning. Notably, the amount held in trust increased to 101% or $10.10 per share. As such, the amount of at-risk capital was increased as well from $5 million to $6.5 million (650K units at $10.00).
Additionally, Monocle will still be contributing $0.10 per share to the trust if they need to use a three-month extension to complete their combination, on top of their stated 21 months. That means the trust could potentially reach 102% or $10.20 per share if they need to use the full 24 months. No other terms were amended.
These terms now look to be more appropriate and are certainly attractive enough to get the deal done. Pricing is still anticipated to occur tonight, February 6th, for trading tomorrow.
A revised summary of terms has been provided below: