RENO, Nev., Oct. 27, 2015 /PRNewswire/ -- CIBL, Inc. ("CIBL" or the "Company") announced today that PMV Acquisition Corp. ("PMV"), an indirect, majority-owned subsidiary of CIBL, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its units. PMV expects to offer ten million units, with each unit consisting of one share of common stock and one warrant to acquire one-half of one share of common stock, at an offering price of U.S. $10.00 per unit. The underwriters will also be granted an over-allotment option to purchase up to an additional one million five hundred thousand units to cover over-allotments, if any.
PMV is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination ("Initial Business Combination") with one or more businesses or entities ("Target Business"). 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 efforts on seeking an Initial Business Combination with a company or companies operating in the global telecommunications, media, entertainment, technology, industrial or consumer markets. It intends to seek to acquire a Target Business with an aggregate enterprise value of approximately $250 million to $500 million.
Cantor Fitzgerald & Co. is the sole book-running manager for the proposed offering. The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus related to the offering may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov. Alternatively, a copy of the preliminary prospectus relating to the offering may be obtained from Cantor Fitzgerald & Co. 499 Park Avenue New York, NY 10022, Attn: David Batalion.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
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.
This release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful or that financial targets will be met, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
CIBL is a holding company with interests in telecommunications operations. CIBL is listed on OTC Pink® under the symbol CIBY.
SOURCE CIBL, Inc.