KLR consummates over-allotment exercise related to IPO

KLR Energy Acquisition Corp. has consummated the sale of an additional 185,320 units that were subject to the underwriters' over-allotment option in its initial public offering (IPO). The additional units were sold at $10 per unit, generating additional gross proceeds of $1,853,200 to the company and bringing the total gross proceeds of the IPO to $81,853,200.  

Of the proceeds received from the consummation of the over-allotment option exercise of units and a simultaneous private placement of warrants to KLR Energy Sponsor LLC, the company's sponsor, and EarlyBirdCapital, the sole book-running manager for the offering, $1,927,327.50 was placed in trust, increasing the amount in trust from $83,200,000 to a total of $85,127,327.50 (or $10.40 per unit sold in the public offering) held in trust.

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