M III Acquisition Corp. (NASDAQ: MIIIU) announced today the closing of its initial public offering of 15 million units at an offering price of $10.00 per unit, resulting in gross proceeds of $150 million, before underwriting discounts and commissions and offering expenses. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units to cover over-allotments, if any, in the public offering. Each unit consists of one share of the Company's common stock and one warrant to purchase one-half of one share of its common stock.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a target business will not be limited to a particular industry or geographic region, although it intends to focus efforts on seeking a business combination with a company or companies based inNorth America that engage primarily in the financial services, healthcare services and industrials sectors.

The Company's units began trading on the NASDAQ Capital Market under the symbol "MIIIU" on July 7, 2016. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the NASDAQ Capital Market under the symbols "MIII" and "MIIIW", respectively.

Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Chardan acted as co-manager.