Posts
October 31 2011
Committed Capital represents the first funded non-traditional SPAC, blind pool, modeled after the UK cash shell. To consummate a business combination, Committed only requires board approval. It doesn't require any SEC review of the transaction prior to close and shareholders do not vote on the proposed deal nor do they have the right to the return of their capital except in the event that no business combination is identified and closed within 21 (or 24 under certain circumstances) months. As in the UK blind pools, management commits to invest at the IPO price adding additional capital to the cash shell. EG&S acted as counsel to the underwriters.
October 31 2011
Advaxis Inc. announced the closing of their PIPE in the amount of $1,977,500.00. EG&S acted as counsel to the Placement Agent.
October 28 2011
Spherix Incorporated announced the closing of their PIPE in the amount of $1,259,502.04. EG&S acted as counsel to the Placement Agent.
October 28 2011
Ensurge Inc. announced the closing of their private placement in the amount of $1,210,000.00. EG&S acted as counsel to the Placement Agent.
October 26 2011
Eric S. Weinstein, a Member of the Firm, was invited by American Conference Institute to speak at their 7th National Forum on Assessing the Impact of the Usual (and Not So Usual) Mortgage Fraud Cases, Including the Upswing in Claims Involving Loan Modifications and Foreclosure Rescue Groups.
October 26 2011
Zoom Technologies, Inc. a leading China-based manufacturer of mobile phones and related products, announced that Spreadtrum Communications, Inc. a leading semiconductor provider in China with advanced technology in both 2G and 3G wireless communications standards, has partnered with Zoom Technologies to pursue new business opportunities in overseas markets. In tandem, Spreadtrum has purchased an 8.3% stake in Zoom Technologies. EG&S acted as counsel to Zoom.
October 25 2011
Bluff Point Associates Corp. announced the purchase of 79.5% of Center for Fiduciary Studies, LLC (“CFS”) and Fiduciary Analytics, LLC (“FA”) for the amount of $11.5 million. Following the purchase CFS and FA were combined and renamed fi360 Inc. EG&S represented Bluff Point Associates Corp.
October 19 2011
Rosetta Genomics Ltd. announced the closing of their PIPE in the amount of $1,518,750.50. EG&S acted as counsel to the Placement Agent.