News & Events - SPACs

  • June 09, 2008

    The initial-offering market for SPACs has seen some signs of hope with an uptick in acquisitions announced and higher prices for SPAC securities.

  • June 02, 2008

    The Heckmann Corporation, a special purpose acquisition company, has announced an agreement to acquire China Water and Drinks for approximately $625.0 million. According to Euromonitor International, China Water is the fifth-largest bottled water supplier in China, based on 2007 estimated revenue figures. Heckmann is the Spac most prominently known for having former Vice President Dan [...]

  • May 30, 2008

    The New York Stock Exchange's announcement that it will list Special Purpose Acquisition Companies (Spacs) could lure investors back to the US and legitimise the investment entity The NYSE will begin listing blank-check initial public offerings (IPOs) or Spacs alongside its merger partner Euronext. Lawyers say the exchange's size and credibility, despite some extra legal requirements, could lead to an acceleration of these companies in the US. "People want good disclosure and the NYSE has that alongside its credibility," said Howard Kleinman, partner at White & Case. Issuing Spacs on the NYSE will carry a few legal requirements, including market capitalisation of $250 million at the time of issuance...

  • May 30, 2008

    Goldman Sachs Group Inc.'s first attempt to sell shares of a so-called blank-check company was doomed from the start.

  • May 30, 2008

    The failure of Goldman's SPAC offering has sparked debate over what brought the deal down and whether changes could revive this IPO market.

  • May 29, 2008

    Fruit-basket sellers, biotech companies, coffee-shop chains: They have all fallen victim to this years chill in the market for initial public offerings. On Wednesday, Liberty Lane Acquisition joined the parade, electing to withdraw its public offering because of the oft-cited market conditions. ....

  • May 29, 2008

    ... The Hampton, N.H.-based special purpose acquisition company was being underwritten by Goldman Sachs (nyse: GS - news - people ), the firm's initial foray into SPAC's, to effect a merger or capital stock exchange with one or more operating businesses....

  • May 29, 2008

    Liberty Lane Acquisition Corp., a special purpose acquisition company (SPAC), said late Wednesday it canceled its proposed $350 million initial public offering due to market conditions...