LGL Systems Acquisition Corp. “DFNSU” announces it will list on the New York Stock Exchange
02 Marzo 2020 - 12:00PM
LGL Systems Acquisition Corp. (Nasdaq: DFNSU) (the “Company”)
announced today that it is voluntarily transferring the listing of
its units from the Nasdaq Capital Market ("Nasdaq") to the New York
Stock Exchange ("NYSE").
The Company will retain its current “DFNS.U” ticker
symbol for the units with the transfer and expects they will trade
on the NYSE on or before March 12, 2020. In addition, the Company
expects separate trading of its Class A common stock (DFNS)
and warrants (DFNSW) comprising the units to begin on the NYSE on
March 13, 2020 under the ticker symbols “DFNS” and “DFNS WS.” Prior
to March 12, 2020, the Company’s units will continue to trade on
Nasdaq. Following the commencement of separate trading of the
Class A common and warrants on the NYSE, the units will continue to
be listed on the NYSE.
“We are pleased to announce the transition of the
DFNSU listing to the New York Stock Exchange and look forward to
offering investors the NYSE’s trading liquidity and access to
capital markets associated with such a globally recognized stock
exchange. We thank the professionals at the NASDAQ for their
efforts during the initial period of LGL’s introduction to the
stock market.”, said Marc Gabelli, the Company’s Chief Executive
Officer.
About LGL Systems Acquisition
Corp.
LGL Systems Acquisition Corp.’s (“LGL”) long term
mission is to acquire a business that will serve as a platform to
build a fully integrated provider of defense products and services
defending the interests of the United States. LGL believes
there is a significant growth opportunity in the United States
defense landscape due to the continued emphasis on modernization as
the United States and its Western European allied nations have
underinvested in their respective militaries as the perceived
threat diminished after the end of the Cold War. C4ISR data
processing, analytics, security and dissemination with a broad
range of applications across the aerospace, defense and
communication end markets will be a focus, and will seek to
effectively employ our management team’s industry skills and
experience as well as their extensive personal network to add
substantial value. LGL is a blank check company
organized for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization, or other similar
business combination with one or more businesses or entities. The
Company’s efforts to identify a prospective target business will
not be limited to any particular industry or geographic region,
although the Company initially intends to focus on target
businesses in the aerospace, defense and communications industries
with enterprise valuations in the range of $350 million to $1
billion.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including with respect to the initial
public offering, the anticipated use of the proceeds thereof and
the search for an initial business combination, are subject to
risks and uncertainties, which could cause actual results to differ
from the forward looking statements, including those set forth in
the risk factors section of the prospectus used in connection with
the Company’s initial public offering. No assurance can be given
that the offering discussed above will be completed on the terms
described, or at all, or that the net proceeds of the offering will
be used as indicated. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
Contact:
investors@dfns.ai
Marc Gabelli
Chief Executive Officer
(775) 393-9113
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