Tenzing, an India-focused SPAC, goes public

Tenzing Acquisition Corp, an India-focused blank check company, has debuted its IPO after pricing its 5.5 million shares at $10 per share. The stock began trading August 21, 2018 on the NASDAQ under the ticker symbol “TZACU.” Maxim Group LLC is the underwriter.

PRESS RELEASE

NEW YORK, Aug. 20, 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, today announced the pricing of its upsized initial public offering (“IPO”) of 5,500,000 units at a price to the public of $10.00 per unit. The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) under the symbol “TZACU” beginning August 21, 2018. Each unit to be 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 traded on NASDAQ under the symbols “TZAC” and “TZACW,” respectively.

Maxim Group LLC is acting as sole book-running manager for the IPO. Tenzing has granted the underwriters a 45-day option to purchase up to 825,000 additional units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from Maxim Group LLC, 405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by Tel: (800) 724-0761.

A registration 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.

ABOUT TENZING
Tenzing is a blank 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.