AR Capital Acquisition Corp. Completes $240M Initial Public Offering Of Units

AR Capital Acquisition Corp. (the "Company") announced the closing of its previously-announced initial public offering of 24,000,000 units at an offering price of $10.00 per unit. The Company's units are listed on the Nasdaq Capital Market under the trading symbol "AUMAU." Each unit consists of one share of the Company's common stock and one-half of one warrant. Each whole warrant will entitle the holder to purchase one share of the Company's common stock at a price of $11.50 per share. The Company has granted the underwriters a 45-day option to purchase up to 3,600,000 additional units to cover over-allotments, if any. AR Capital Acquisition Corp. was formed for the purpose of acquiring one or more businesses through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. Its efforts in identifying a prospective target business are focused on, but not limited to, the asset management sector. The Company's sponsor is AR Capital, LLC, an investment management firm co-founded in 2007 by Nicholas S. Schorsch and William M. Kahane. Citigroup acted as sole book running manager for the offering. Ladenburg Thalmann, a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), acted as co-manager for the offering. A registration statement relating to these units and the underlying securities was declared effective by the Securities and Exchange Commission on October 1, 2014. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The offering was made only by means of a prospectus, copies which may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (800) 831-9146.