Cambridge Capital Acquisition Corporation Units (CAMBU)

CAMBU was the trading symbol for the units of Cambridge Capital Acquisition Corporation, a special purpose acquisition company based in West Palm Beach, Florida. The company sold 7,000,000 units at $10.00 each on the Nasdaq Capital Market under a prospectus dated December 17, 2013, with an option for the underwriters to sell more. Each unit contained one share of common stock and one warrant to buy a further share at $11.50 after a business combination.

The units later separated into common shares trading as CAMB and warrants trading as CAMBW. Money raised in the offering was placed in a trust account, worth roughly $10.10 per public share by late 2015, while management searched for an operating business to acquire. In 2015 Cambridge agreed to combine with Ability Computer & Software Industries Ltd., a Tel Aviv company that made interception, geolocation and cyber intelligence tools for government security agencies.

Stockholders voted on the deal at a special meeting called for December 22, 2015. Under the structure, Cambridge merged into a Cayman Islands subsidiary renamed Ability Inc., each Cambridge share became one Ability share and each warrant became a warrant on Ability stock. The proxy stated that the new company would not have listed units, so CAMBU ceased to trade once the combination closed, with Ability Inc. applying to list under ABIL and ABILW.