WL Ross Holding Corp. Announces Proposed Initial Public Offering

NEW YORK, June 2, 2014 /PRNewswire/ -- Earlier today WL Ross Holding Corp. announced that it plans to offer, subject to market and other conditions, 40 million units, each consisting of one share of its common stock and one warrant to purchase one-half of one share of its common stock at an offering price of $10.00 per unit.  WL Ross Holding Corp. is a newly organized blank check company formed for the purpose of effecting a merger or other business combination with a target company.  The proceeds of the offering will be used to fund such business combination.  WL Ross Holding Corp. has applied to list its units on the NASDAQ Stock Market under the symbol "WLRHU."  Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the NASDAQ Stock Market under the symbols "WLRH" and "WLRHW," respectively.

Deutsche Bank Securities and BofA Merrill Lynch will act as lead underwriters for the offering.  WL Ross Holding Corp. expects to grant the underwriters a 45-day option to purchase up to an additional 6 million units to cover over-allotments, if any, in the public offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any units or any other securities of WL Ross Holding Corp., nor will there be any sale of the units or any other securities of WL Ross Holding Corp. in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.  A registration statement relating to WL Ross Holding Corp.'s 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.  A copy of the registration statement may be obtained free of charge from the SEC's website at www.sec.gov.    

The offering will be made only by means of a prospectus.  When available, copies of the prospectus may be obtained from Deutsche Bank Securities, Attn: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: 800-503-4611, or by emailing [email protected]; or from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, or by emailing [email protected].

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

SOURCE WL Ross Holding Corp.

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