News & Events - SPACs

  • July 23, 2008

    It said that it had 90% take up by European investors, particularly in Germany, Italy and the UK A SPAC, often called a blank-check companyhas no operations when it lists on the stock market but uses the proceeds to merge with, or acquire a company. These investment.....

  • July 22, 2008

    Shares in the Spac, which aims to make an acquisition valued at between 1 billion euros and 3 billion euros in Germany, Austria or Switzerland inin the next two years, fell 0.5 percent in its first day, to 9.95 euros.

  • July 21, 2008

    The cash shell, which focuses on small to medium-sized businesses, raises €250m in one of the few sizeable deals in Europe outside the renewable energy sector

  • July 21, 2008

    Germany1 Acquisition Ltd., a so- called special purpose acquisition company managed by Deutsche Bank AG, said it raised 275 million euros ($436 million) in an initial public offering.

  • July 20, 2008

    proposed) is a Seoul-based "blank check" company that was recently formed to target businesses located in the Republic of Korea and in the People's Republic of China. The mystery: Getting a "blank check" deal out the door has proven ...

  • July 15, 2008

    Equity capital markets bankers acknowledge that with the difficult marketconditions, 2008 is unlikely to be the year oftheSpac in Europe, but they remain...

  • July 07, 2008

    Investors swim clear of cash-shells left stranded by tide. But spcial purpose acquisition companies - or SPACs - are struggling to win over investors. The clearest sign of this came last week when....

  • July 05, 2008

    Aaron, Kemp, Cuomo looking to buy team. A so-called "blank check" company, Sports Properties raised $216 in an initial public offering...

  • July 03, 2008

    Reverse Mergers commonly involve a smaller public company merging with a larger private company, with the combined entity treated as a publicly listed...

  • July 02, 2008

    ... in principle to combine with Hicks Acquisition Co., a blank-checkcompany launched by buyout veteran Thomas O. Hicks, in a deal valued at$3.2 billion. ...

  • June 16, 2008

    This is a newly formed blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar...

  • June 13, 2008

    SPACs can be an attractive option for a company looking to sell or grow. With tougher credit conditions, smaller companies have limitedoptions toraise ...

  • June 11, 2008

    The 70-year-old Mr. Holtz apparently must know a lot about running companies - and SPACs in particular - because he was...

  • June 11, 2008

    Bloomberg described Sports Properties as a special-purpose acquisitioncompany that raised more than $200million in an initial public offering last year to...

  • 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...