Initial Public Offering
|9 Months Ended|
Sep. 30, 2020
|Initial Public Offering|
|Initial Public Offering||
Note 3 — Initial Public Offering
Pursuant to the Initial Public Offering, the Company sold Each Public Warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share (see Note 7). Units at a purchase price of $ per Unit, which included a partial exercise by the underwriters of their over-allotment option in the amount of Units at $ per Unit. Each Unit consists of one ordinary share of the Company, one right (the “Public Right”) and one redeemable warrant (the “Public Warrant”). Each Public Right entitles the holder to receive one-tenth (1/10) of an ordinary share upon consummation of a Business Combination.
ANDINA ACQUISITION CORP. III
NOTES TO CONDENSED FINANCIAL STATEMENTS
SEPTEMBER 30, 2020
If the Company is unable to complete an initial Business Combination by the Extended Date and the Company redeems the public shares for the funds held in the Trust Account, holders of the rights and warrants will not receive any of such funds for their rights and warrants and the rights and warrants will expire worthless.