Garnero Group Acquisition Prices IPO At $10.00 Per Unit

(RTTNews) - Garnero Group Acquisition Co. (GGACU) announced that its Registration Statement on Form S-1 was declared effective by the Securities and Exchange Commission.

The closing of the Company's initial public offering of 12.50 million units is expected to be consummated on or about July 1, 2014.

Each unit consists of one ordinary share, par value $0.0001 per share, one right to automatically receive one-tenth of one ordinary share upon consummation of an initial business combination and one warrant entitling the holder to purchase one-half of one ordinary share at a price of $11.50 per full share commencing on the later of the Company's completion of its initial business combination or June 25, 2015.

Each Unit will be sold at an offering price of $10.00 per unit for aggregate gross proceeds of $125 million.