United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
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Item 8.01. Other Events
On September 14, 2021, Bannix Acquisition Corp. (the “Company”) consummated its initial public offering (the “IPO”) of 6,000,000 units (the “Units”), each Unit consisting of one share of common stock of the Company, par value $0.01 per share (the “Common Stock”), one redeemable warrant (“Warrant”), each whole Warrant entitling the holder thereof to purchase one share of Common Stock for $11.50 per share and one right (“Right”), each Right entitling the holder to receive 1/10th of one share of Common Stock. In connection with the IPO, I-Bankers Securities, Inc., the underwriter, opted to fully exercise its over-allotment option to purchase 900,000 additional Units (the “Over-Allotment”). The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $69,000,000. Simultaneously with the closing of the IPO and the Over-Allotment, the Company consummated a private placement (“Private Placement”) with one of the sponsors and anchor investors of 406,000 units (the “Private Units”), generating total proceeds of $3,835,000.
As of September 14, 2021, a total of $69,690,000 of the net proceeds from the IPO, the Over-Allotment and the Private Placement were deposited in a trust account established for the benefit of the Company’s public stockholders. An audited balance sheet as of September 14, 2021 reflecting receipt of the proceeds upon consummation of the IPO, the Over-Allotment and the Private Placement is included with this report as Exhibit 99.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. | Description | |
99.1 | Balance Sheet dated September 14, 2021 | |
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 20, 2021 | ||
BANNIX ACQUISITION CORP. | ||
By: | /s/ Subash Menon | |
Name: Subash Menon | ||
Title: Chief Executive Officer |