16 Mar 2016capital raising announcement● NeutralMajor
The company, then named KLR Energy Acquisition Corp. (a blank-check company later renamed Rosehill Resources), closed its IPO of 8,000,000 units at $10.00 each, raising $80,000,000 gross; each unit is one Class A share plus one warrant to buy a share at $11.50. It also sold 8,310,000 private placement warrants at $0.75 ($6,232,500). $80,000,000 went into a trust account, which is returned to public holders if no business combination closes within 18 months of the IPO closing. This follows the March 2016 registration and Nasdaq listing steps.