{"id":431,"date":"2021-08-25T11:59:34","date_gmt":"2021-08-25T16:59:34","guid":{"rendered":"https:\/\/arc-group.com\/php-ventures-raises-additional-7-5m-from-underwriters-of-ipo\/"},"modified":"2025-01-23T11:56:40","modified_gmt":"2025-01-23T16:56:40","slug":"php-ventures-raises-additional-7-5m-from-underwriters-of-ipo","status":"publish","type":"post","link":"https:\/\/arc-group.com\/php-ventures-raises-additional-7-5m-from-underwriters-of-ipo\/","title":{"rendered":"PHP Ventures raises additional $7.5M from underwriters of IPO"},"content":{"rendered":"<div class=\"sa_ky_bxa\" data-test-id=\"content-container\">\n<ul>\n<li>PHP Ventures Acquisition\u00a0<span class=\"ticker-hover-wrapper\">(NASDAQ:<a title=\"PHP Ventures Acquisition Corp. Units\" href=\"https:\/\/seekingalpha.com\/symbol\/PPHPU?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews\">PPHPU<\/a>)<\/span>\u00a0<a href=\"https:\/\/seekingalpha.com\/pr\/18449152-php-ventures-acquisition-corp-announces-full-exercise-of-underwriters-overallotment-option?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews\" target=\"_blank\" rel=\"noopener\">raised<\/a>\u00a0an additional $7.5M after the underwriters of its\u00a0Nasdaq IPO exercised their option in full to<span class=\"paywall-full-content\">\u00a0buy 750K units at $10\/unit.<\/span><\/li>\n<li class=\"paywall-full-content\">In total the company sold 5.75M units for gross proceeds of $57.5M.<\/li>\n<li class=\"paywall-full-content\">Each unit consists of one common share; 0.5 redeemable warrant; and one right to acquire 1\/10 of one common stock.<\/li>\n<li class=\"paywall-full-content\">Each warrant can be used to buy one common stock at $11.50\/share.<\/li>\n<li class=\"paywall-full-content\">PHP Ventures \u2014 is a blank check company formed for the purpose of effecting a merger, reorganization, or business combination \u2014 is led by Chairman\u00a0and CEO Marcus Choo Yeow Ngoh and CFO Garry Stein.<\/li>\n<li class=\"paywall-full-content\">PHP Ventures intends to focus on consumer-facing companies with a significant Africa presence or a compelling Africa potential, which complements the expertise of the company&#8217;s management team.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>PHP Ventures Acquisition\u00a0(NASDAQ:PPHPU)\u00a0raised\u00a0an additional $7.5M after the underwriters of its\u00a0Nasdaq IPO exercised their option in full to\u00a0buy 750K units at $10\/unit. In total the company sold 5.75M units for gross proceeds of $57.5M. Each unit consists of one common share; 0.5 redeemable warrant; and one right to acquire 1\/10 of one common stock. Each warrant [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[20],"tags":[],"news_type":[41],"class_list":["post-431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_type-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/comments?post=431"}],"version-history":[{"count":1,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/431\/revisions"}],"predecessor-version":[{"id":5658,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/431\/revisions\/5658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/media\/432"}],"wp:attachment":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/media?parent=431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/categories?post=431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/tags?post=431"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/news_type?post=431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}