On May 18, 2006, Israel Growth Partners Acquisition Corp. announced that its underwriter had exercised a portion of its over-allotment option and purchased an additional 32,500 Class A units and an additional 518,000 Class B units. A total of 532,500 Class A units and 5,118,000 Class B units were sold to the public. The total gross proceeds raised in the IPO were $56,218,050.
The balance placed in the trust account is $51,691,800, equal to $5.05 per Class B share. In the event that the company is liquidated, the Class A shareholders will not receive any of the funds placed into the escrow account.
sec.gov |
