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
July 10, 2012
Universal Business Payment Solutions Acquisition Corp. (UBPS), a special purpose acquisition company that raised $72 million...
July 06, 2012
Are SPACs back?
This boom-time phenomenon known as special-purpose acquisition companies, or SPACs, have seen ebbs and flows over the years, both pre- and post-financial crisis. Clearly the market for new SPAC issuances, which rely on initial public offerings to raise capital, is constrained, given the state of the IPO markets. Nonetheless, interest in the niche has continued, say industry observers, and SPAC acquisitions now appear to be on the rise again.
June 29, 2012
The Tile Shop, LLC (The Tile Shop), a leading specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories, and JWC Acquisition Corp. (OTCBB: JWCA; JWCAW; JWCAU), a special purpose acquisition company, today announced a definitive agreement under which The Tile Shop will engage in a business combination with JWC Acquisition Corp.
June 13, 2012
Net Element, a global publisher of online destinations and soon-to-be operator of a mobile commerce platform for Russia and other emerging markets, and Cazador Acquisition Corporation, a special purpose acquisition company (SPAC), announced the execution of a merger agreement that will infuse up to $81 million into Net Element and provide the necessary financial resources for the company’s next stage of growth.
June 04, 2012
The JOBS Act was supposed to be about clearing away regulation to help young companies create jobs. Just eight weeks after its passage, however, more than a dozen of the companies seeking to use its looser rules for going public aren't the type of high-tech growth companies lawmakers had in mind.
May 16, 2012
Appleton Papers Inc. ("Appleton") and Hicks Acquisition Company II, Inc. (Nasdaq: HKAC) today announced a definitive agreement under which Appleton will engage in a business combination with Hicks Acquisition Company II valued at $675 million. The combined company will be listed on the Nasdaq exchange, positioning Appleton for long-term growth and profitability with an improved balance sheet and greater access to capital.
May 15, 2012
After four straight years of declines, deal making by so-called Special Purpose Acquisition Companies is showing modest signs of a rebound. Through last Friday, SPACs, investment funds created specifically for buying companies, had announced four acquisitions this year, valued at a total of $168 million, according to Dealogic. That’s more than the two such deals, valued at $66 million, made during the whole last year.
SPACs remain a long way from their heyday of 2007, when they spent $4.08 billion snapping up companies. But there is reason to believe that SPAC activity will continue to increase. Under the rules that govern most of the funds they need to buy at least one company within two years of being formed. Dealogic says that SPACs raised a total of $1.61 billion in 2010 and 2011 through initial public offerings. Many of them will need to find targets by the end of 2013.
“We’ll continue to see many more acquisitions by SPACs in the next 12 months,” said Douglas Ellenoff, a partner at the law firm Ellenoff Grossman & Schole LLP, which has served as an adviser on recent SPAC transactions.
Of this year’s deals, two were by RLJ Acquisition Inc. On April 2, it announced a $114.8 million acquisition of Acorn Media Group Inc. and a $43.8 million deal for Image Entertainment Inc.
April 20, 2012
Special purpose acquisition companies CIS Acquisition Ltd. and Aquasition Corp. filed to raise $100 million and $50 million, respectively, in initial public offerings.
April 04, 2012
Burger King Worldwide Holdings Inc. (BKC) (BKC), the fast-food chain taken private in 2010 by New York investment firm 3G Capital Inc., will go public again after merging with a company owned by billionaire William Ackman. 3G Capital, backed by Brazilian billionaires, will receive $1.4 billion in cash to transfer Burger King to Justice Holdings Ltd. (JUSH), a special-purpose acquisition company co-founded...
April 04, 2012
Aquasition Corp., a blank check company focused on acquiring businesses in the maritime transportation and service industries, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.
April 02, 2012
The combined company, to be named RLJ Entertainment, will be "one of the largest independent distributors of digital and video content globally," the firms said.
March 22, 2012
Hibiscus Petroleum Bhd, Malaysia's first special-purpose acquisition company (SPAC), has received its shareholders' nod to acquire a 35 per cent stake in Lime Petroleum plc for US$55 million (US$1 = RM3.10).
March 20, 2012
CIS Acquisition, a blank check company focused on acquiring businesses in Russia and Eastern Europe, filed with the SEC on Tuesday to raise $100 million in an initial public offering.
March 16, 2012
The special purpose acquisition company Andina Acquisition Corp. revised its initial public offering and now plans to raise $40 million, down from its initially planned $50 million.