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Technology Stocks : Blank Check IPOs (SPACS)
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To: Glenn Petersen who wrote (2191)1/15/2010 11:07:11 AM
From: Glenn Petersen   of 3862
 
Sports Properties Acquisition (stock symbol: [t]HMR[/t]) has announced that it has abandoned its efforts to its proposed "Framework Agreement" and that the company will b liquidated.

Sports Properties Acquisition Corp. Announces Cancellation Of Special Meetings Of Stockholders and Warrantholders

Press Release Source: Sports Properties Acquisition Corp. On Friday January 15, 2010, 9:13 am EST

NEW YORK--(BUSINESS WIRE)--Sports Properties Acquisition Corp. (NYSE Amex: "HMR") ("Sports Properties"), a public investment vehicle, announced today that it has cancelled the special meetings of its stockholders and warrantholders in connection with the transactions contemplated by the previously announced Framework Agreement between Sports Properties and Medallion Financial Corp., which had been scheduled for 10:00 a.m. EST on Friday, January 15, 2010. Sports Properties is required by its amended and restated certificate of incorporation to liquidate if it is unable to consummate a business combination by January 17, 2010. Accordingly, Sports Properties will begin the process of liquidating and dissolving itself in accordance with the amended and restated certificate of incorporation and applicable Delaware law. Sports Properties cannot make any assurance as to when such liquidation will be completed.

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finance.yahoo.com
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