UBPS Announces Transaction Update
PHILADELPHIA--(BUSINESS WIRE)-- Universal Business Payment Solutions Acquisition Corporation ("UBPS" or the "Company") (NASDAQ: Common Stock: "UBPS", Units: "UBPSU", Warrants: "UBPSW"), a special purpose acquisition company, today announced that it filed two current reports on Form 8-K with the U.S. Securities and Exchange Commission disclosing additional information about the acquisitions it originally announced on July 9, 2012, which were further disclosed in its Proxy Statement on November 13, 2012 and subsequent filings. The Forms 8-K are available at www.sec.gov.
Universal Business Payment Solutions Acquisition Corporation is a blank check company formed for the purpose of acquiring one or more operating businesses in the payments and payroll processing industries as a platform for further roll-up acquisition opportunities. The Company raised net proceeds of approximately $72 million through its initial public offering in May 2011 led by EarlyBirdCapital, Inc. Please visit www.ubpsac.com for more information.
Participants in the Business Combination
The Company and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed business combination. Information regarding the officers and directors of the Company is available in the Company's annual report on Form 10-K for the year ended December 31, 2011, which has been filed with the SEC. Additional information regarding the interests of such potential participants will be included in the definitive proxy statement/prospectus for the proposed business combination and the other relevant documents filed with the SEC.
Note Regarding Financial Information
Certain financial information and data of EMS, JetPay, and AD Computer contained in this press release is derived from unaudited financial statements and data and may not conform to Regulation S-X. Accordingly, such information and data may be adjusted and presented differently in the proxy materials to be mailed to the Company's security holders.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. UBPS's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, UBPS's expectations with respect to future performance and anticipated financial impacts of the proposed transaction, the satisfaction of the closing conditions to the proposed transaction, and the timing of the completion of the proposed transaction.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside UBPS's control and are difficult to predict. Factors that may cause such differences include, but are not limited to, those described under the heading "Risk Factors" in UBPS's final prospectus, dated May 9, 2011. Other factors include the possibility that the transactions contemplated by a potential transaction agreement do not close, including due to the failure of certain closing conditions.
UBPS cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in UBPS's most recent filings with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements concerning UBPS, a potential transaction agreement, the related transactions, or other matters and attributable to UBPS or any person acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. UBPS cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. UBPS does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Peter Davidson, Chief Administrative Officer
Eric Van der Vlugt, 215-564-1213, ext.12,
The Equity Group Inc.
Adam Prior, Vice President
KEYWORDS: United States North America Pennsylvania
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