The American Stock Exchange listed the units of Sapphire Industrials Corp. under the ticker symbol FYR.U. The offering size is 80,000,000 units at $10.00 per unit for gross proceeds of $800,000,000 (excluding the underwriters' over-allotment option).
Each unit consists of one share of common stock and one warrant. Initially, the units will be the only security trading. Citigroup Global Markets Inc. is lead underwriter on the IPO.
Sapphire Industries Corp. is a newly organized company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. It is the Company's current intention to focus their efforts on identifying a prospective target business or businesses primarily on general industrial companies in North America.
"We are pleased to welcome Sapphire Industries Corp. to the American Stock Exchange," said Neal Wolkoff, Chairman and CEO of Amex. "The Amex looks forward to supporting Sapphire Industrials Corp. as it seeks to convey its value proposition to a greater number of investors." -- American Stock Exchange
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