March 01, 2012
ROI Acquisition, a blank check company backed by consumer-focused private equity firm the Clinton Group, raised $75 million by offering 7.5 million shares at $10.00.
February 21, 2012
Hugh Osmond is poised to launch the successor to his Horizon investment vehicle as early as this month, with an expected fund-raising target in the region of £500m. Mr Osmond, perhaps best known as one of the people behind the growth of Pizza Express, is understood to be finalising plans for a special purpose acquisition company (SPAC) through which the money will be raised.
October 29, 2011
Hibiscus Petroleum, South-East Asia’s first listed special purpose acquisition company, has announced its first proposed transaction. Its subsidiary, Gulf Hibiscus, has agreed to pay US$50m for 76.9m new shares, equivalent to a 27.2% stake, in Lime Petroleum...
October 28, 2011
Committed Capital Acquisition Corporation (OTCBB: CMTPU) announced today that it has closed its initial public offering of 5,750,000 units at a price of $5.00 per unit for net proceeds of $28.75 million, which includes the full exercise of the underwriter's over-allotment option. Each unit consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $5.00 per share. The common stock and warrants...
August 27, 2011
The British Airways (BA) chairman, who earlier this summer was pipped at the post to run the Tote by rival BetFred, is contemplating setting up a special-purpose acquisition company (SPAC) to provide a permanent source of capital to match his future ambitions...
July 21, 2011
Douglas S. Ellenoff and Stuart Neuhauser, members of the Firm, led a SPAC panel moderated by Rothstein Kass on how SPACs are benefiting the private equity industry.
Click here to view the presentation
July 19, 2011
Douglas S. Ellenoff, a member of the Firm, was invited by Deal Flow Media to open their 2011 SPAC Conference with opening remarks on the state of the SPAC market.
Click here to listen to the audio
July 15, 2011
Nautilus Marine Acquisition Corp. (NASDAQ: NMARU), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, today announced the pricing of its initial public offering...
July 15, 2011
Blue Wolf Mongolia Holdings Corp. (the "Company") (NASDAQ: MNGL), a newly-organized
blank check company formed for the purpose of acquiring or merging with an operating
business, today announced the pricing of its initial public...
June 30, 2011
Azteca Acquisition Corporation, a blank check company focused on businesses in Mexico
and the US led by the Brener family, raised $100 million on Thursday...
June 22, 2011
Stuart Neuhauser, a partner at Ellenoff Grossman & Schole LLP was invited by IPO Vital
signs to comment on the resurgence of SPACs in the 2011 IPO market.
June 16, 2011
Empeiria Acquisition Corp. (the "Company") (OTCBB: EPAQU), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, today announced the pricing of its initial public offering of 6,000,000 units at a price of $10.00 per unit for gross proceeds of $60,000,000 on June 15, 2011. Each unit issued...
June 08, 2011
The recession pretty much killed blank check companies and special purpose acquisition companies (or SPACs). After more than two years of an equity market recovery, we have started to see periodic blank check companies file for initial public offerings. The newest filing is from Blue Wolf Mongolia Holdings Corp. It is probably going to stand out from other similar offerings. The company...
May 24, 2011
St. Louis buyout veteran James Mills is asking investors to write him a blank check for $100 million. Mills is chairman of Empeiria Acquisition Corp., a New York company that has filed for an initial public stock offering even though it has no operations. The idea is that Empeiria's managers will use investors' money to make one or more acquisitions.
May 23, 2011
The success of Crumbs Inc. (CRMB.OB) has given a new spark to the market for special purpose acquisition companies. Shares of the chain of cupcake bakeries have climbed almost 20% to $11.90, as of late this morning, since its merger with 57th Street General Acquisition Corp. early this month.
May 18, 2011
Global Eagle Acquisition Corp. (Nasdaq: EAGLU), a special purpose acquisition company
(SPAC) led by media executives Harry Sloan and Jeff Sagansky, today announced the
closing of its initial public offering in which it raised approximately $190 Million ...
May 05, 2011
57th Street General Acquisition Corp. (“57th Street” or the “Company”) (OTCBB: SQTC) and Crumbs Holdings LLC (“Crumbs”), the largest US-based retailer of cupcakes, which operates under the name Crumbs Bake Shop, jointly announced today that they have closed on their business...
April 25, 2011
Azteca Acquisition Corporation, a blank check company focused on businesses in
Mexico and the US led by the Brener family, filed on Friday with the SEC to raise...
April 19, 2011
Global Cornerstone Holdings Limited (the "Company") (OTCBB:GCRSF), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, today announced the pricing of its initial public offering of 8,000,000 units at a price of $10.00 per unit for gross proceeds of $80,000,000...
April 13, 2011
SCG Financial Acquisition Corp. (SCGQU.OB: News ), a newly-organized blank
check company formed for the purpose of acquiring or merging with an operating business, said Wednesday that it has priced its initial public offering of 8 million...
March 31, 2011
Prime Acquisition Corp. (Nasdaq: PACQU) (the "Company") today announced the closing of
its initial public offering on March 30, 2011. The initial public offering was for an aggregate
of 3,600,000 units at $10.00 per unit. Each unit consists of one share of common...
March 22, 2011
In volatile IPO markets, a SPAC can take companies public with a comfortable level of
certainty for the transaction. In light of volatile capital markets, so-called
special-purpose acquisition companies (SPACs) are becoming increasingly popular
with investors in European markets. SPACs, which originated in the United...
March 18, 2011
Activist investor Phillip Goldstein, Bulldog Investments co-founder, explains why he sees opportunities in SPACs.....
March 14, 2011
Robert L. Johnson, Chairman of The RLJ Companies and founder of Black
Entertainment Television (BET), announced today that RLJ Acquisition, Inc. (the
"Company") actively commenced its search for a business combination following its
successful initial public offering. RLJ Acquisition, Inc. is a special purpose....
March 07, 2011
Stocks are way up in the last couple of years and the IPO market is back to producing
some of the usual companies you might expect. Now there may even be a blank check IPO
hitting the markets again. A new outfit called Empeiria Acquisition Corp....