DENVER, March 27, 2013 (GLOBE NEWSWIRE) -- HF2 Financial Management Inc. (Nasdaq:HTWO) (the "Company") announced today that it has completed its initial public offering of 15,300,000 shares of Class A Common Stock (the "Public Shares"). The shares were sold at an offering price of $10.00 per share, generating gross proceeds of $153,000,000 to the Company. In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 2,295,000 shares. EarlyBirdCapital, Inc. and Sandler O'Neill + Partners, L.P. acted as joint book running managers of the initial public offering. Copies of the final prospectus relating to the offering may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov . Alternatively, a copy of the prospectus relating to the offering may be obtained from EarlyBirdCapital, Inc., 275 Madison Avenue, 27th Floor, New York, New York 10016 or from Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020. The Company has deposited $160,650,000 (including $14,148,750 of proceeds from the sale of 1,414,875 shares of Class A Common Stock to the Company's sponsors in a private placement), or $10.50 per Public Share, into a trust account maintained by Continental Stock Transfer & Trust Company acting as the trustee. The funds will not be released from the trust account except under certain limited circumstances as described in the prospectus relating to the offering. Audited financial statements as of March 27, 2013 reflecting receipt of the proceeds upon the consummation of the initial public offering will be issued by the Company and included as Exhibit 99.1 to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. HF2 Financial Management Inc. is a newly formed blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination. The Company's efforts to identify an initial prospective target business will not be limited to any particular industry or geographic region, although the Company intends to focus its search on companies operating in the financial services industry.