News & Events - SPACs

  • June 18, 2014

    New York-based blank cheque firm Millennium Investment & Acquisition Company (MIAC), formerly known as Millennium India Acquisition Company Inc and created as a special purpose acquisition company (SPAC) to invest in India, has signed an asset purchase agreement for a potential acquisition of an activated carbon biomass plant in the US, as part of its plans to focus on alternative energy assets.

  • June 06, 2014

    Shares of WL Ross Holding Corp, a special purpose acquisition company set up by billionaire Wilbur Ross, rose slightly in their market debut on Friday. The company raised $435 million after selling 43.5 million units for $10 per unit. Each unit comprises one share and one warrant to buy half a share.

  • June 02, 2014

    Earlier today WL Ross Holding Corp. announced that it plans to offer, subject to market and other conditions, 40 million units, each consisting of one share of its common stock and one warrant to purchase one-half of one share of its common stock at an offering price of $10.00 per unit. WL Ross Holding Corp. is a newly organized blank check company formed for the purpose of effecting a merger or other business combination with a target company.

  • May 20, 2014

    Garnero Group Acquisition, a blank check company managed by Mario Garnero to acquire energy or biotech companies in Latin American, filed and set terms for an initial public offering on Tuesday.

  • May 19, 2014

    BSP Acquisition, blank check company formed by Sanford Miller to acquire a US firm in the travel industry, filed and set terms for an initial public offering on on Monday. The Daytona Beach, FL-based company plans to raise up to $100 million by offering 10 million units at a price of $10.

  • May 13, 2014

    Reach Energy Bhd, the fourth oil and gas special-purpose acquisition company (SPAC) to seek a Main Market listing on Bursa Malaysia, will be the largest initial public offering (IPO) for a SPAC by its fundraising size of RM750mil.

  • May 13, 2014

    Billionaire Wilbur Ross joins the market move back to SPACs

    Billionaire Wilbur Ross has launched a special investment vehicle, which had been popular just before the financial crisis gripped the markets, to make opportunistic acquisitions. The prominent investor, who carved out a reputation restructuring troubled companies in the ’80s and ’90s and then launched his own private equity firm 14 years ago, has submitted a filing with the Securities and Exchange Commission to form a so-called special purpose acquisition corporation (or SPAC). The deal marks Ross’s first SPAC, sources familiar with the matter say.

    Quartz, May 13, 2014

  • May 05, 2014

    Blank check company 1347 Capital files and sets terms for $40 million IPO

    1347 Capital, a blank check company formed by a team from Fund Management Group, filed and announced terms for its IPO on Monday. The Itasca, IL-based company plans to raise $40 million by offering 4.0 million shares at a price $10. At the proposed price, it would command a fully diluted market value...

    Renaissance Capital, May 5, 2014

  • April 16, 2014

    Committed Capital Acquisition Corporation II Announces Closing of $35,000,000 Initial Public Offering

    Committed Capital Acquisition Corporation (the "Company") CCAQU 0.00% announced today that it has closed its initial public offering for gross proceeds of $35 million. The Company is a blank check company that was formed for the purpose of acquiring or merging with an operating business.

    PR Newswire, April 16, 2014

  • April 14, 2014

    Glori Energy Inc. and Infinity Cross Border Aquisition Corporation Announce Completion of Merger and Private Placement

    Glori Energy Inc. ("Glori"), an energy technology company, and Infinity Cross Border Acquisition Corporation (Nasdaq: INXB) ("Infinity"), a special purpose acquisition company, announced today that they have completed the merger and share exchange agreement (the "Merger Agreement") first announced on January 8, 2014, and a simultaneous private placement led by Infinity Group and Hicks Equity Partners LLC ("Hicks").

    Glori Energy, April 14, 2014

  • March 17, 2014

    Kingsway Subsidiary 1347 Capital LLC Signs Letter of Intent to Sponsor Initial Public Offering via a SPAC

    Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced that its wholly-owned subsidiary, 1347 Capital, LLC, has signed a letter of intent to sponsor an initial public offering by a special purpose acquisition company to be formed by it. The offering is expected to include four million units, each unit consisting of one share of common stock, one right to...

    PR Newswire, March 17, 2014

  • January 16, 2014

    Hennessy Capital Acquisition Corp. Completes $115 Million Initial Public Offering

    Hennessy Capital Acquisition Corp. (the "Company") announced today that it priced its initial public offering of 10,000,000 units at $10.00 per unit. Each unit issued in the initial public offering consists of one share of the Company's common stock and one warrant to purchase one half of one share of common stock at an exercise price of $5.75 per half share ($11.50 per full share). The Company has granted the underwriters a 45-day option to purchase up to 1,500,000 additional units to cover over-allotments,...

    www.marketwatch.com; January 16, 2014

  • August 19, 2013

    Andina Acquisition Corporation to Acquire Tecnoglass S.A. and C.I. Energia Solar S.A. E.S. Windows

    Andina Acquisition Corp. (ANDA) has agreed to buy glass maker Tecnoglass S.A. for roughly $178 million, a deal it says allows it to participate in a growing industrial business in Latin America.  Based in Barranquilla, Colombia, Tecnoglass is a manufacturer of hi-spec, architectural glass and windows for the global residential and commercial construction industries.

    www.marketwatch.com; August 19, 2013

  • July 25, 2013

    Silver Eagle Acquisition Corp., Founded By Harry E. Sloan And Jeff Sagansky, Announces Pricing Of $300 Million Initial Public Offering

    Silver Eagle Acquisition Corp. (the "Company"), an acquisition vehicle formed by media executives Harry E. Sloan and Jeff Sagansky, announced today that it priced its initial public offering of 30,000,000 units at $10.00 per unit. Each unit issued in the initial public offering consists of one share of the Company's common stock and one warrant to purchase one half of one share of common stock at an exercise price of $5.75 per...

    PR Newswire, July 25, 2013

  • February 26, 2013

    SPAC HF2 Financial Management sets terms for $153 million IPO

    HF2 Financial Management, a blank check company formed to acquire a financial services company, announced terms for its IPO on Tuesday. The Denver, CO-based company plans to raise $153 million by offering 15.3 million shares at a price of $10. At the proposed offer price, H2 Financial Management would command a fully diluted market value of $405 million.

    Renaissance Capital, February 26, 2013

  • December 19, 2012

    Chart Acquisition Corp. Announces Closing of $75,000,000 Initial Public Offering

    Chart Acquisition Corp. (the Company) (NASDAQ: CACGU), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, today announced the closing of its initial public offering for gross proceeds of $75 million.

    www.bizjournals.com; December 19, 2012

  • December 19, 2012

    CIS Acquisition Ltd. Announces its Initial Public Offering

    CIS Acquisition (CISAU) announced the pricing of its IPO and commencement of public trading on December 19, 2012. The initial public offering was of an aggregate of 4,000,000 units at $10.00 per unit. Each unit consists of one share of common stock and one warrant. The underwriters have a 45-day option to purchase up to an additional 360,000...

    PR Newswire, December 19, 2012

  • November 09, 2012

    Harry Sloan And Jeff Sagansky Pay $430M To Create Inflight Entertainment Colossus

    Two entertainment industry veterans believe the sky’s the limit for the internet and entertainment. Harry Sloan and Jeff Sagansky, co-founders of Global Eagle Acquisition Corp., have acquired in-flight providers Row44 and most (86 percent) of Advanced Inflight Alliance to create Global Eagle Entertainment. The remaining shares will remain listed on the Frankfurt Stock Exchange as AIA.

    Deadline.com; Novemner 9, 2012

  • October 03, 2012

    RLJ Acquisition Inc. announced the completion of it's business combination

    Robert L. Johnson, Chairman of The RLJ Companies and founder of Black Entertainment Television (BET), announced today RLJ Acquisition, Inc. (OTCQB: RLJAU; RLJA; RLJAW) (the "Company") has successfully completed the business combination acquiring Image Entertainment, Inc. (DISK) ("Image") and Acorn Media Group, Inc., two highly complementary media content...

    RLJ Companies, October 3, 2012

  • October 02, 2012

    Net Element and Cazador Acquisition Corporation Announce Completion of Merger to Become Net Element

    Net Element, a technology driven group in mobile commerce and payment processing, as well as in entertainment and culture Internet destinations in Russia and other emerging markets, and Cazador Acquisition Corporation, a special purpose acquisition company (SPAC), today announced that their respective shareholders have approved their...

    Dailyfinance, October 2, 2012

  • October 01, 2012

    Lone Oak Acquisition Corp. Has Entered into a Non-Binding Letter of Intent for a Business Combination

    Lone Oak Acquisition Corp., a special purpose acquisition company (OTC Bulletin Board: LOKKF) (the "Company"), announced today that it has signed a non-binding letter of intent to negotiate and execute a definitive agreement to complete a business combination.

    PR Newswire, October 1, 2012

  • September 12, 2012

    In this paper, we focus on Special Purpose Acquisition Companies (SPACs), which are shells initiated with the sole intent of acquiring a privately held company, rather than “natural shells,” which arise after bankruptcy.

    ResearchGate, September 12, 2012

  • August 22, 2012

    Tile Shop Holdings, Inc. and JWC Acquisition Corp. Announce Closing of Business Combination

    Tile Shop Holdings, Inc. (“TS Holdings”) and JWC Acquisition Corp. (“JWCAC”) jointly announced today that the previously announced business combination between TS Holdings, JWCAC, and The Tile Shop, LLC (“The Tile Shop”) has closed. Pursuant to the Business Combination, through a series of transactions, JWCAC and The Tile Shop have been...

    Reuters, August 22, 2012

  • August 07, 2012

    Hyde Park Acquisition Corp. II Completes Initial Public Offering

    Hyde Park Acquisition Corp. II (NASDAQ: HPAC) (the “Company”) announced today that it has completed its initial public offering of 7,500,000 shares of common stock. The shares were sold at an offering price of $10.00 per unit, generating gross proceeds of $75,000,000 to the Company. In addition, the Company has granted the underwriters a 45 day over-allotment option to purchase up to an additional 1,125,000 shares.

    The Street, August 7, 2012

  • July 11, 2012

    Australia Acquisition Corp. Agrees to Acquire Approximately $350 Million of Emerging Markets Investments From Harbinger Capital Partners

    AAC to Combine Majority Stake in Asian Coast Development (Canada) Ltd. and Minority Stake in Ferrous Resources Limited to Form New Global Diversified Holding Company.

    Silicon Investor, July 11, 2012