Another blank check company, Confluence Acquisition Partners I, Inc., has filed an S-1. The deal is being underwritten by Dawson James Securities, Inc.. The company is going to focus its acquisition efforts on acquiring an operating company in the healthcare sector.
Confluence Acquisition Partners I, Inc. – STILL IN REGISTRATION
Number of units being offered: 8,000,000
Proposed price per unit: $6.00
Terms of deal: One share of common stock and warrants to purchase two shares of common stock at $5.00 per share.
Underwriters: Dawson James Securities, Inc.
Proposed ticker symbols
Common stock: Not known
Warrants: Not known
Units: Not known
Common shares to be outstanding subsequent to IPO: 10,000,000
Shares to be held by public shareholders: 8,000,000
Shares held by insiders: 2,000,000
Percentage held by public shareholders: 80.0%
Gross proceeds being raised: $48,000,000
Net proceeds to be held in escrow: $42,400,000
Escrowed proceeds per share applicable to future public shareholders: $5.30
Date of IPO: N/A
Date of original filing: July 8, 2005
Current stock price
Common stock: N/A
Warrants: N/A
Units: N/A
Insider shares: 2,500,000 shares purchased at $.025 per share. Total proceeds: $50,000.
Restrictions on insider shares: The shares will remain in escrow until the earlier of three years, the liquidation of the company, or the consummation of an acquisition.
Other insider requirements: None.
Description of business: We are a Delaware blank check company incorporated on February 2, 2005, in order to acquire, through a merger, capital stock exchange, asset acquisition or other similar business combination, an operating business in the healthcare industry.
Biographical information for significant officers: John J. Klobnak has been the chairman of our board of directors and president since our inception in February 2005. Mr. Klobnak is currently a private investor. He also is a strategic partner invested in two of the Strategic Partners Funds managed by SV Life Sciences, one of the world’s largest healthcare venture capital firms. He served as chairman and chief executive officer of Laser Vision Centers, Inc., (NASDAQ: LVCI) an international provider of excimer lasers and related equipment and services from July 1988 to May 2002. From 1990 to 1993 he served as Laser Vision’s chairman, president and chief executive officer. During his tenure at Laser Vision Centers, he was responsible for the company’s initial public offering conducted in April 1991 as well as the company’s subsequent public and private financings, its five acquisitions, its growth in sales to over $100 million and the ultimate sale of the company in August 2001, via merger with a major competitor, TLC Vision Corporation (NASDAQ: TLCV). Following the merger, Mr. Klobnak served as vice chairman of the board of TLC Vision until August 2004. In 1999, Mr. Klobnak was named Entrepreneur of the Year, in an annual competition conducted by Ernst and Young. He graduated from Southern Illinois University at Edwardsville with a bachelor of arts degree in mass communications and political science. He was named that institution’s “Alumnus of the Year” in 1998. Mr. Klobnak also serves on the board of directors of Better Living Communities, a non-profit corporation providing low-income housing in St. Louis, Missouri.
SEC filings: sec.gov |
