News & Events

  • July 31, 2009

    Elephant Talk Communications, Inc. announced the closing of a PIPE transaction in the amount of $5,111,000 (which includes a $4.1 million debt conversion).  EG&S acted as counsel to Elephant Talk.

  • July 31, 2009

    Great American Group, Inc. announced the completion of its acquisition of 100% of the membership interests of Great American Group, LLC, a leading provider of asset disposition solutions and valuation and appraisal services to a retail, wholesale and industrial clients, lenders, capital providers, private equity investors and professional service firms.  The transaction has a potential aggregate value of approximately $200 million.  Great American Group, Inc. was formerly a subsidiary of Alternative Asset Management Acquisition Corp. ("AAMAC").  EG&S acted as counsel to both AAMAC and Great American Group, Inc.

  • July 28, 2009

    New Generation Biofuels Holdings, Inc. announced the closing of a registered direct financing transaction for shares of its common stock and warrants in the amount of $3.2 million.  EG&S acted as counsel to Capstone Investments, the placement agent for the financing.

  • July 20, 2009

    Biotheryx, Inc. announced the closing of their Private Placement in the amount of $2,000,000.  EG&S acted as counsel to Biotheryx, Inc.

  • May 29, 2009

    Ted Poretz, a member of the Firm, was interviewed on Hispanic Television Network - HITN, about his friend and colleague Sonia Sotomayor.  Ted was first acquainted with Ms. Sotomayor when he was an Assistant District Attorney in the City of New York, in Robert Morganthau's office.

    Click here to view the interview (click on Part 2)

  • May 28, 2009

    A.C. Moore Arts & Crafts, Inc. announced the closing of their PIPE deal in the amount of $10 million.  EG&S acted as counsel to Glenhill Special Opportunities Master Fund LLC, the sole purchaser in the transaction.

  • May 28, 2009

    The SEC hosts an annual forum that focuses on the capital formation concerns of small business.  The "SEC Government-Business Forum on Small Business Capital Formation" gathering has assembled annually since 1982.  A major purpose of the Forum is to provide a platform for small business to highlight perceived unnecessary impediments to the capital-raising process.  The Final Report is now available on the small business page of the SEC website at  

  • May 22, 2009

    Ellenoff Grossman & Schole LLP (EG&S) was recently approved as a law firm permitted to represent the Federal Deposit Insurance Corporation (FDIC) as outside counsel. This approval permits EG&S to be retained by the FDIC in connection with matters concerning disposition of bank loans, loan workouts, securities laws, litigation and other matters in which EG&S' legal professionals have experience. EG&S looks forward to working with the FDIC in connection with their important role as it relates to the U.S. financial system, including the management of receivership of failed banking institutions.

  • March 20, 2009

    Irwin Weltz, a member of the Firm, was the featured speaker at the Commerical Finance League's bi-annual meeting on the topic "Current financial fraud and the expected regulatory response from the SEC and other bodies." 

  • March 18, 2009

    Douglas S. Ellenoff, a member of the Firm, was invited by SMH Capital to participate in their "Listing Options in Troubled Markets" webinar.   The panel consisted of representatives from  AMEX, NASDAQ, OTC-QX, and the legal community to discuss the current situation and provide insight into the many alternatives that companies, boards and investors might consider when facing de-listing, going private or going dark.

  • March 17, 2009

    While most people have never heard of them, search funds are attracting increasing attention as a way for small businesses to beat the usual odds of success, even in the midst of a deepening recession.

  • March 05, 2009

    Joseph S. Nicotra, a member of the Firm, attended NAIOP's (the Commercial Real Estate Development Association) New York Conference where speaker Hugh F. Kelly, an economist, provided a detailed perspective of the New York Region, measuring the depth and length of the 2009 downturn and the prospects for recovery of the economy and the real estate sector.    Click here for more details

  • March 04, 2009

    This is a summary of notes taken at the Search Funds Conference at Stanford held on March 3rd, 2009. There were two 1-hour panel presentations, one consisting of investors and the other of search funders. The investors were Jim Edmunds (Search Fund Partners), Tim Ludwig (Ohana Capital), Jim Southern, Joel Peterson and Lew Davies...

  • February 24, 2009

    2008 IPO Leadership

    Ellenoff Grossman & Schole LLP was ranked 6th in the country for IPOs (by number of IPO filings).

    Click here to view the rankings

  • February 23, 2009

    On January 27, 2009, ChinaGrowth North Acquisition Corporation, a $40 million SPAC, completed the acquisition of UIB Group Limited (UIB).  EG&S acted as counsel to Morgan Joseph, which served as an advisor in the transaction.

  • February 23, 2009

    On January 27, 2009, ChinaGrowth South Acquisition Corporation, a $40 million SPAC, completed the acquisition of Olympia Media Holdings (OMH).  EG&S acted as counsel to Morgan Joseph, which served as an advisor in the transaction.

  • February 23, 2009

    On October 30, 2008, Heckman Corporation announced that Heckman stockholders approved the proposed merger with China Water and Drinks Inc.  EG&S acted as counsel to Roth Capital Advisors, which was one of the original underwriters.

  • January 22, 2009

    Sanders Morris Harris Group announced that it has entered into a definitive agreement for the sale of SMH Capital, a registered broker-dealer, to a group of the firm's management, along with Pan Asia China Commerce Corp (“PAC3”), which has agreed to provide financing for the transaction.  EG&S acted as counsel to the management and sponsors of the MBO.  

  • January 19, 2009

    A group of private investors acquired control of Integrated Conveyor, Ltd. and provided capital to restructure the obligations of the company.  EG&S acted as counsel to the private investors.

  • January 17, 2009

    Knob Hill Partners, LLC, a search fund led by Charles Burckmyer and Scott Noll, announced today that it has held the final closing on its fund and commenced its nationwide search for a company to acquire.

  • January 15, 2009

    Irwin Weltz, a member of the Firm, recently resolved an SEC deregistration proceeding on behalf of an issuer (see Securities Exchange Act Release Numbers 59256 and 59257), and a FINRA matter involving financial/operational issues on behalf of a broker-dealer and associated person.

  • January 14, 2009

    Douglas S. Ellenoff, a member of the Firm, was invited by Morgan Stanley to be the keynote speaker at a private roundtable discussion of many of the major institutional investors which participate in the SPAC industry to discuss the current and relevant issues and risks involving trading in SPAC securities.

  • December 30, 2008

    Control Building Services, Inc. and certain of it's affiliated companies, announced the completion of a $20,000,000 line of credit facility with TD Bank, N.A.  EG&S represented Control Services.

  • December 09, 2008

    Douglas S. Ellenoff, a member of the Firm, wrote an article for EQUITIES Magazine on SPAC trust funds and where they stand during these difficult times.

    Click here to view the article

  • December 04, 2008

    Douglas S. Ellenoff and Stuart Neuhauser, members of the Firm, were invited to speak on a panel regarding SPACs held in Toronto, Canada. The conference, which was sponsored by the law firm Fasken Martineau DuMoulin LLP,  brought together investors, investment bankers, advisers as well as senior executives of the Toronto Stock Exchange (TSX), to discuss the recent proposal of the TSX to agree to list SPACs on its exchange. Messrs. Ellenoff and Neuhauser shared with the panel their collective experience of the US SPAC market and the various changes/trends over the last few years.