Schiff Hardin LLP advised I-Bankers Securities, Inc, sole book running manager in the offering. Ellenoff Grossman & Schole LLP advised East Stone Acquisition Corp. Ogier has acted as British Virgin Islands counsel on the upsized Initial Public Offering on NASDAQ of East Stone Acquisition Corp.
East Stone Acquisition Corporation (NASDAQ: ESSCU) announced it has priced its upsized initial public offering of 12,000,000 units at $10.00 per unit.
East Stone Acquisition Corp. originally planned to offer 10 million units and raise $100 million, but increased the size of the base offering to $120 million a day before its debut in the public markets.
The offering closed on February 24, 2020, and the underwriters exercised their 15% over-allotment option resulting in gross proceeds to East Stone Acquisition Corp. of $138 million.
EarlyBirdCapital, Inc. acted as co-manager in the offering.
East Stone Acquisition Corporation is a newly incorporated blank check company incorporated as a British Virgin Islands business company and incorporated for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities.
The Schiff Hardin team was led by Ralph De Martino (Picture) and Cavas Pavri.
Ellenoff Grossman & Schole LLP advised East Stone Acquisition Corp.
Ogier has acted as British Virgin Islands counsel on the upsized Initial Public Offering on NASDAQ of East Stone Acquisition Corp. with a team incuding with Michael Killourhy and David Mathews.