Brief: Hennessy Capital Acquisition Corp. II and USI announce merger agreement

USI

04/04/2016 11:00

April 4 (Reuters) - Hennessy Capital Acquisition Corp Ii 
 HCAC.O  
    * Hennessy Capital Acquisition Corp. II and USI announce 
merger agreement  
    * Says combined company will be led by current USI president 
and CEO, Bill Varner 
    * Says under terms of merger agreement dated as of April 1, 
2016, aggregate merger consideration is $348.5 million 
    * Says HCAC will pay total merger consideration with a 
combination of cash and newly issued shares of common stock 
    * Cash to be funded through cash in HCAC's trust account 
after stock redemption,  cash raised in debt financing 
    * Says stock consideration will equal approximately 7.1 
million shares of hcac common stock 
    * Says USI's stockholders will own approximately 22% of 
combined company 
 
Source text for Eikon:  ID:nGNXMQIASa  
Further company coverage:  HCAC.O