Brief: Caspi Oil Gas To Go Public Through Merger With Liberty Resources Acquisition Corp

Liberty Resources Acquisition

10/08/2022 13:21

Aug 10 (Reuters) - Liberty Resources Acquisition Corp
 LIBY.O :
    * CASPI OIL GAS LLP, A CONCESSION OWNER FOR OIL AND GAS
PRODUCTION
IN KAZAKHSTAN, TO GO PUBLIC THROUGH MERGER WITH LIBERTY
RESOURCES ACQUISITION CORP.
    * LIBERTY RESOURCES ACQUISITION CORP - TRANSACTION
REPRESENTS
PROFORMA ENTERPRISE VALUE OF $427.7 MILLION FOR CASPI
    * LIBERTY RESOURCES ACQUISITION CORP - CASPI EXPECTS TO HAVE
UP TO
$55 MILLION IN CASH TO FUND GROWTH AND OPERATIONS, ASSUMING NO
REDEMPTIONS
    * LIBERTY RESOURCES ACQUISITION - AS PART OF DEAL, CO TO
ASSUME
LIABILITIES OF CASPI OF $50.0 MILLION & MAKE PAYMENT OF $50.0
MILLION TO CURRENT OWNERS OF CASPI
    * LIBERTY RESOURCES ACQUISITION - CURRENT OWNERS OF CASPI
WILL
ALSO RECEIVE ABOUT 32.7 MILLION SHARES OF COMBINED CO'S COMMON
STOCK
    * LIBERTY RESOURCES ACQUISITION - UPON CLOSING OF BUSINESS
COMBINATION, NEW ENTITY EXPECTS TO DECLARE A DIVIDEND OF AT
LEAST $0.50/SHARE OF COMMON STOCK

Further company coverage:  LIBY.O 

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