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Rodman & Renshaw Acts as a Co-Manager to Prime Acquisition Corp. Initial Public Offering

^{Published on 2011-03-25 11:10:51 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), announced that it has acted as a co-manager to Prime Acquisition Corp. (Nasdaq:PACQU) who announced the pricing of its initial public offering on March 24, 2011. The initial public offering was for an aggregate of 3,600,000 units at $10.00 per unit. Each unit consists of one share of common stock and one warrant. In addition, the underwriters have a 45-day option to purchase up to an additional 540,000 units from the Company at the initial public offering price to cover over-allotments, if any. The Company also announced the completion of a private placement of 2,185,067 warrants at $0.75 per warrant to members of its founding shareholders and certain of their designees.

The offering is being made only by means of a prospectus, copies of which may be obtained from Chardan Capital Markets, LLC, 17 State Street, Suite 1600, New York, New York, 10004, Attn: George Kaufman.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 24, 2011. 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.

About Prime Acquisition Corp.

Prime Acquisition Corp. is a blank check company recently formed to acquire through a merger, capital stock exchange, asset acquisition, stock purchase or similar business combination, or control through contractual arrangements, one or more operating businesses.

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

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