Tenzing Acquisition Corp. Announces Full Exercise and Closing of Underwriters' Over-Allotment Option in Connection with its Initial Public Offering

Corp. Announces Full Exercise and Closing of Underwriters' Over-Allotment Option in Connection with its Initial Public Offering

30, 2018 /PRNewswire/ -- Tenzing Acquisition Corp. (NASDAQ : TZACU) ("Tenzing" or the "Company"), a company

formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business

combination with one or more businesses or entities, announced today the closing of the issuance of an additional 825,000 units

pursuant to the exercise in full of the underwriters' over-allotment option in connection with its initial public offering. The

additional units were sold at $10.00 per unit, generating additional gross proceeds of $8,250,000 to the Company and bringing the

total gross proceeds of the IPO to $63,250,000.

units commenced trading on Tuesday, August 21, 2018 on The NASDAQ Capital Market ("NASDAQ") under the symbol "TZACU."

Each unit issued in the IPO consists of one ordinary share and one warrant to acquire one ordinary share at an exercise price of

$11.50 per share. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected

to be listed on NASDAQ under the symbols "TZAC" and "TZACW," respectively.

proceeds received from the consummation of the initial public offering (as well as the exercise of the over-allotment option)

and simultaneous private placements of units, $64,515,000 (or $10.20 per unit sold in the public offering) was placed in

trust. An unaudited pro-forma balance sheet of the Company as of August 30, 2018 reflecting receipt of the proceeds upon

consummation of the initial public offering (as well as the exercise of the over-allotment option) and the private placements

will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange

acted as sole book-running manager for the IPO.

statement relating to the securities was declared effective by the SEC on August 20, 2018. 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.

check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting

a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses

or entities. The Company's efforts to identify a target business will not be limited to a particular industry or geographic region,

although it intends to focus its search on target businesses that operate in India.

contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the

net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements

are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk

Factors section of the Company's registration statement and final prospectus for the Company's offering filed with the Securities

and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation

to update these statements for revisions or changes after the date of this release, except as required by law.

Tenzing Acquisition Corp.