News & Events - SPACs

  • August 20, 2010

    L&L Acquisition Co. announced plans to raise up to an estimated $57.5 million through an initial public offering, launching a capital-raising effort by a once-common sector--special purpose acquisition vehicles. Such entities--created to raise capital for acquisitions--were popular before the financial crisis for investors to tap the markets for takeover financing. But some SPACs were unable to find a suitable deal and ultimately returned the money to investors. SPACs generally have two years...

  • August 13, 2010

    The Boston-based private equity firm J.W. Childs Associates is trying again to raise funds for a special purpose acquisition company (SPAC) after pulling the registration statement for a $200 million SPAC last November. The middle market leveraged buyout shop is sponsoring JWC Acquisition Corp. and will attempt to raise up to $172.5 million including the over-allotment option. It will focus...

  • August 09, 2010

    Hong Kong-based electronics injection molder Plastec International Holdings Ltd. will go public on a U.S. stock exchange following a $73.4 million deal with a Cayman Islands-based holding company. Plastec was founded in 1993 and conducts business under the name Sun Line Industrial Ltd. It employs 4,600 at five facilities with a total of 1.7 million square feet of manufacturing space in Guangdong and Jiangsu provinces.

  • June 29, 2010

    Tom Hicks is back in the market with a new special purpose acquisition company, Hicks Acquisition Co. II, looking to raise $200 million for the new vehicle. The SPAC follows the model of 57th Street General Acquisition Corp. that is eschewing a shareholder vote for proposed business combinations. According to a preliminary prospectus, Hicks Acquisition Co. II is offering 20 million units at $10 a share, with each unit consisting of one share of common stock and one warrant, with a strike price of $12 a share...

  • June 01, 2010

    announced today that it has closed the sale of 456,300 units subject to an over-allotment option granted to the underwriters in its initial public offering ("IPO"). Ellenoff Grossman & Schole LLP acted as counsel to the Company...

  • May 03, 2010

    Subscriptions for Samsung Life Insurance shares, which get listed on the stock market on May 12, began Monday. The biggest fish in the initial public offering (IPO) market this year drew huge attention from the part of investors, but outlooks dffers among analysts regarding whether the IPO will be fruitful as expected.

  • April 08, 2010

    A blank-check company sponsored by the Greek shipping group Navios Holdings(NM) finally has a business to go along with its incorporation, after announcing an agreement on Thursday to purchase 13 tanker ships for nearly half a billion dollars.

  • April 07, 2010

    The Hingham company announced today that it successfully completed a warrant exchange offer required for its merger with BPW Acquisition Corp., a special purpose acquisition company tied to private-equity firm Perella Weinberg Partners.

  • February 04, 2010

    Helikos SE, a newly formed special purpose acquisiton company (SPAC) incorporated in Luxembourg, announced a EUR250 million offering on the Frankfurt Stock Exchange (FSE).

  • November 13, 2009

    These vehicles, which are structured similarly to special purpose acquisition companies, do not face the same bank-buying regulations imposed upon PE firms by the FDIC, and are steadily gaining favor with regulators.

  • October 21, 2009

    We’re going to look at two or three deals from The Great SPAC Wave Of 2007-2008.

  • October 21, 2009

    A typical SPAC must complete its acquisition within 18 months to 2 years, and so the last remaining survivors of the 2007 crop are fighting to stay alive.

  • October 21, 2009

    We’re going to look at two or three deals from The Great SPAC Wave Of 2007-2008.

  • October 13, 2009

    United Refining Energy Corp. (URX) agreed to acquire privately held Chaparral Energy Inc. in a deal the companies valued at $1.8 billion and which would boost the independent oil and gas company's capital.

  • October 05, 2009

    This week kicks off a month’s worth of deal votes guaranteed to keep SPACs’ volume up into November.

  • September 29, 2009

    What's significant now is that investors are approving SPAC acquisitions, rather than reflexively voting "no" and taking back the cash, which is certainly what they would have done a few months ago during the crisis period.

  • September 29, 2009

    Are Special Purpose Acquisition Companies back, or have they never left the scene?

  • September 29, 2009

    Three blank check companies: 2020 ChinaCap Acquiro (AMEX: TTY), NRDC Acquisition (AMEX: NAQ) and Capitol Acquisition Co. (AMEX:CLA), are all trading at or above their trust values prior to their deal votes. This signals growing investor confidence in the targets the SPACs have selected.

  • September 29, 2009

    It is one of the strongest signs yet that deal activity has picked up and investors have regained an appetite for riskier bets.

  • September 23, 2009

    Germany2, a special purpose acquisition company (SPAC), is planning a $400 million sale.

  • September 23, 2009

    REGIAN ACQUISITION CORP. is the first blank check IPO filed this week. ...

  • September 23, 2009

    ...This morning, the company announced a deal to merge with GHL Acquisition(GHQ), an Amex-listed SPAC taken public earlier this year in a dealsponsored by ...

  • September 22, 2009

    This week brings several issues and votes in the special purpose acquisition company sector.

  • September 22, 2009

    GHL Acquisition, the blank-check acquisition company backed by investment bank Greenhill & Co., said Monday that its chief executive resigned so the company could comply with requirements for having its shares listed on the Nasdaq Stock Market.

  • September 17, 2009

    MBF Healthcare Acquisition Corp. amended its merger agreement with Critical Homecare Solutions Holdings and the health care company's private equity owner Kohlberg Investors V. ...