Business
VerifyMe Announces Closing of $106,260,000 Initial Public Offering, Including Partial Exercise of Overallotment Option, by Co-Sponsored SPAC - G3 VRM Acquisition Corp.
SPAC is targeting businesses with enterprise values of approximately $250 million to $500 million within the technology and business services
About this update from Verifyme, Inc.
[{"type":"text","content":"SPAC is targeting businesses with enterprise values of approximately $250 million to $500 million within the technology and business services industry.ROCHESTER, NY / ACCESSWIRE / July 7, 2021 / VerifyMe, Inc. (NASDAQ:VRME) (\"VerifyMe,\" \"we,\" \"our,\" or the \"Company\"), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce that G3 VRM Acquisition Corp., a special purpose acquisition company being co-sponsored by the Company (\"G3 VRM Acquisition\"), commenced trading on NASDAQ under the symbol \"GGGVU\".As co-sponsor, VerifyMe indirectly, through G3 VRM Holding LLC, owns approximately 9.95% of the outstanding shares G3 VRM Acquisition, which are subject to forfeiture upon certain conditions and restrictions on transfer.The closing of its initial public offering of 10,626,000 units, including partial exercise of the over-allotment option, was at a price of $10.00 per unit. Each unit consists of one share of Class A common stock and one right to receive one-tenth (1/10) of one share of Class A common stock upon the consummation of the Company's initial business combination.Maxim Group LLC acted as sole book-running manager for the offering.A registration statement relating to the securities was declared effective by the SEC on June 30, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About G3 VRM Acquisition Corp.G3 VRM Acquisition Corp. (NASDAQ:GGGVU) is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more busines...